Six Flags (SIX 67.75, +0.23) has climbed 0.3% after announcing plans to increase its dividend.
The amusement park operator announced that, starting in the first quarter, its regular quarterly cash dividend will be increased 11.4% to $0.78 per share.
Commenting on the hike, Six Flags Chairman, President, and CEO Jim Reid-Anderson noted that the company's annual cash flow is set to benefit greatly from the recently-implemented GOP tax cut. Six Flags expects that savings resulting from the tax cut will be used to invest in the company's parks.
The dividend hike comes just over a month after the company announced a 9.4% quarterly dividend increase to $0.70.
Following today's announcement, shares of Six Flags have a forward dividend yield of 4.6%. The stock has climbed 12.6% so far in 2017, reaching a new record high. The stock has rallied more than 620.0% since the company emerged from bankruptcy in mid-2010.