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AMC Entertainment issues special dividend to reward Q2 loss reduction, APE investors

AMC Entertainment sees revenue growth and net loss continues to narrow last quarter Top Gun: Maverick, It’s not hard to compare to 2021, but ticket sales to exhibitors are approaching 2019 levels.

The country’s biggest film series saw sales of $1.16 billion, compared to sales of $444.7 million in the second quarter of 2021. There was a net loss of $121.6 million compared to $344 million in red ink for the second quarter of 2021.

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The losses were hit by a drop in the share price of Highcroft Mining, a Nevada gold mine AMC that sank $28 million to the surprise of Wall Street and the industry in general. In Q2, “we wrote off the large profit we booked in the first quarter. While our reported losses will continue to be affected by market price volatility, we continue to believe strongly in the potential value of our $28 million Highcroft mining investment.” ,” Aaron said.

AMC also announced plans to issue dividends in the form of preferred shares – equity units that it has implemented to list on the New York Stock Exchange under the symbol APE, referring to its band of vocal, individual investors who have Most institutions have been replaced as stockholders.

Each AMC preferred equity unit is designed to have the same economic and voting rights as a share of common stock. The ex-dividend date will be August 22.

Adjusted EBITDA increased from $257.5 million to $106.7 million for the second quarter of 2021, compared to a loss of $150.8 million.

“AMC has completed a wonderfully encouraging second quarter that lifts our mood and brightens our prospects,” Aaron said.

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