Key Developments: The Marcus Corp (MCS)
13.59USD
23 May 2013
$-0.24 (-1.74%)
$13.83
$13.71
$13.78
$13.55
46,580
70,387
$14.37
$10.27
Latest Key Developments (Source: Significant Developments)
The Marcus Corp Increases Share Repurchase Program
The Marcus Corp announced that Board of Directors has authorized the repurchase of up to 3,000,000 additional shares of the Company's outstanding common stock. The repurchases would be executed in the open market, in privately negotiated transactions or pursuant to a Securities and Exchange Commission Rule 10b5-1 plan, depending upon a number of factors including prevailing market conditions. As of December 31, 2012, the Company had 18,480,658 shares of common stock outstanding and 8,773,073 shares of Class B common stock outstanding.The new authorization adds to the company's existing share repurchase program that had approximately 955,000 shares remaining under prior authorizations as of December 31, 2012. The company has repurchased approximately 1.8 million shares in conjunction with the exercise of stock options and the purchase of shares in the open market since June 1, 2012, the beginning of its 2013 fiscal year. Full Article
The Marcus Corp Declares Special Cash Dividend; Accelerates Next Two Quarterly Cash Dividend Payments
The Marcus Corp announced that its Board of Directors has declared a special cash dividend of $1.00 per common share and has accelerated the next two regular quarterly cash dividend payments totaling $0.17 per common share. The dividends are payable on December 28, 2012 to shareholders of record on December 17, 2012. The Board of Directors also declared a dividend of $0.90909 per Class B common share and accelerated the next two quarterly dividend payments totaling $0.15454 per Class B common share. The dividends on the Class B common stock, which is not publicly traded, will also be paid December 28, 2012 to shareholders of record on December 17, 2012. Full Article
The Marcus Corp Declares Regular Quarterly Dividend
The Marcus Corp announced that it declared a regular quarterly cash dividend of $0.085 per share of common stock. The dividend will be paid November 15, 2012 to shareholders of record on October 29, 2012. The Board of Directors also declared a dividend of $0.07727 per share on the Class B common stock. The dividend on the Class B common stock, which is not publicly traded, will also be paid November 15, 2012 to shareholders of record on October 29, 2012. Full Article
Faruqi & Faruqi, LLP Launches Investigation against The Marcus Corp
Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of The Marcus Corp (Marcus or the Company) for potential breaches of fiduciary duties in connection with their conduct of seeking shareholders’ approval of the compensation for the Company’s named executive officers. The terms of the compensation to be awarded to the Company’s executive officers are outlined in the Proxy Statement on Form Schedule 14A that Marcus filed with the Securities and Exchange Commission on September 7, 2012. Full Article
The Marcus Corp's Marcus Hotels & Resorts to Acquire the Cornhusker Hotel and Office Plaza in Lincoln
Marcus Hotels & Resorts, a division of The Marcus Corp and its affiliate, MCS Capital LLC, announced an agreement, subject to the satisfaction of certain standard and customary conditions to closing, to purchase the Cornhusker Hotel and Office Plaza in Lincoln, Neb. Marcus Hotels will be the majority owner of a joint venture with a fund affiliate of LEM Capital of Philadelphia. The Cornhusker Hotel acquisition is the first transaction sourced by MCS Capital, The Marcus Corporation’s new hotel investment business. Marcus Hotels & Resorts assumed management of the property as of September 6, 2012. Terms of the transaction were not disclosed. Full Article
The Marcus Corporation Increases Share Repurchase Program
The Marcus Corporation announced that its Board of Directors has authorized the repurchase of up to 2,000,000 additional shares of the Company`s outstanding common stock. The repurchases would be executed in the open market, in privately negotiated transactions or pursuant to a Securities and Exchange Commission Rule 10b5-1 plan, depending upon a number of factors including prevailing market conditions. As of June 30, 2012, the Company had 20,091,189 shares of common stock outstanding and 8,817,315 shares of Class B common stock outstanding. The new authorization adds to the Company`s existing share repurchase program that had approximately 763,000 shares remaining under prior authorizations as of June 30, 2012. The Company repurchased approximately 1,077,000 shares in the open market during its fiscal year ended May 31, 2012. The new authorization does not obligate the Company to acquire any particular number of shares of common stock. The pace of the Company`s repurchase activity will depend on factors such as current stock price, market conditions and other factors. The Company`s share repurchase program may be suspended, modified or discontinued at any time and has no set expiration date. The shares repurchased would be retained as treasury stock and used for employee benefit plans or other general corporate purposes. Full Article
The Marcus Corporation Declares Regular Quarterly Dividend
The Marcus Corporation announced that it has declared a regular quarterly cash dividend of $0.085 per share of common stock. The dividend will be paid August 15, 2012 to shareholders of record on July 30, 2012. The Board of Directors also declared a dividend of $0.07727 per share on the Class B common stock. The dividend on the Class B common stock, which is not publicly traded, will also be paid August 15, 2012 to shareholders of record on July 30, 2012. Full Article
The Marcus Corporation Declares Regular Quarterly Dividend
The Marcus Corporation announced that it has declared a regular quarterly cash dividend of $0.085 per share of common stock. The dividend will be paid May 15, 2012 to shareholders of record on April 25, 2012. The Board of Directors also declared a dividend of $0.07727 pershare on the Class B common stock. The dividend on the Class B common stock, which is not publicly traded, will also be paid May 15, 2012 to shareholders of record on April 25, 2012. Full Article
The Marcus Corporation Declares Regular Quarterly Dividend
The Marcus Corporation announced that it has declared a regular quarterly cash dividend of $0.085 per share of common stock. The dividend will be paid February 15, 2012 to shareholders of record on January 25, 2012. The Board of Directors also declared a dividend of $0.07727 per share on the Class B common stock. The dividend on the Class B common stock, which is not publicly traded, will also be paid February 15, 2012 to shareholders of record on January 25, 2012. Full Article
The Marcus Corporation's Marcus Theatres To Purchase Showtime Cinema In Franklin, Wis. Out Of Receivership
Marcus Theatres, a division of The Marcus Corporation, announced it will purchase the Showtime Cinema in Franklin, Wis. out of receivership. Marcus Theatres submitted the highest bid to purchase the theatre at an auction on December 8, 2011. The 12-screen theatre is located at 8910 S. 102nd Street, just west of Hwy 100 on Loomis Road. The purchase is expected to close on December 14. Plans are for the theatre to be closed to the public on December 15 and reopen on December 16 as a Marcus Theatres location. The financial details of the transaction were not disclosed. Full Article
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