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Cinemark Reports Mixed Q4 Results, Restores Shareholder Dividend In Post-Covid Milestone
Movie theater owner Cinemark reported mixed fourth-quarter results, but restored its shareholder dividend in a milestone in its recovery from Covid.
Movie theater owner Cinemark reported mixed fourth-quarter results, missing Wall Street forecasts for earnings per share but posting better-than-expected revenue. Despite the solid results to end the year, lingering impact from the dual strikes of 2023 and secular declines in theatrical moviegoing kept total revenue of $8.8 billion well short of pre-pandemic levels. “Based on the strength of our company and our positive future outlook, we are thrilled to reinstate our annual cash dividend at $0.32 per share, which marks another major milestone in our recovery from the pandemic,” CEO Sean Gamble said.
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