SeaWorld Shares Jump 13% in Trading Debut
SeaWorld Entertainment went public on Friday, trading at $27 per share and $31 at their highest point of the day. The publicly traded company is doing better than anticipated, trading at 13% above the initial public offering price. Despite the incident that occurred in 2010 where a trainer was killed by an orca in the middle of the theme park’s special show, the company is showing a lot of strength in moving forward. Valued at 2.5 billion, SeaWorld reported earnings four times more than their previous year raking in $77.4 million. To increase public interest in their stock, SeaWorld plans to pay a dividend of 20 cents per share even though the company just went public.
Even with strong competitors like Six Flags and Cedar Fair who charges lesser admission fees, SeaWorld is still thriving. Good news is coming from the company and their future plans seem to be pushing the company in a positive direction. The company is planning to add new attractions, offer smartphone apps and introduce a new character to represent the theme park. All these future plans with the dividend are extremely appealing to investors who want to invest in a growing company like SeaWorld.
Written by: Wilson Tang