May 03, 2016
By Michael Kramer
Canada’s biggest movie theatre chain says it set a record for attendance in the first quarter – thanks in part to the continued interest in the “Star Wars” saga.
Cineplex Inc. says it welcomed 20.6 million patrons during the first three months of this year.
Revenue from all business lines totalled $379.9 million, up 30.8 per cent from $289.8 million a year earlier.
Box office sales accounted for $192.6 million of the total revenue, with smaller contributions coming from food, amusement games and other types of leisure activities.
Net income more than doubled – to $21.5 million or 34 cents per share from $10.5 million or 17 cents per share.
That means the dividend to Cineplex shareholders will increase by 3.8 per cent – to $1.62 per share on an annualized basis.