Dividend Stock #1 Cinemark (CNK)
Cinemark Holdings Inc. (NYSE: CNK) owns movies theaters across the United States and Latin America, with a total of about 5,000 screens in America alone.
- Current Yield: 4% (84 cents a share annually)
- Dividend History: In June 2010, Cinemark paid a quarterly dividend of 18 cents a share. This July, it will pay 21 cents, for a nearly 17% increase.
- Dividend Outlook: According to Bloomberg, the three-year expected dividend growth rate of CNK is 2.5%.
- Recent Performance: Cinemark has surged over 20% so far in 2011, more than doubling the market. It is approaching a new 52-week high as of this publication.
- Strong Outlook for Shares: Cinemark has seen improving revenue each year since 2007, connecting with movie-goers despite the recession. That’s in part because of growth and acquisitions — most recently it plans to buy a 12-screen cinema in South Carolina. The movie industry may not be booming right now, but CNK could cash in big time when box office receipts improve thanks to its growth over the last few years.