S&P: Regal unchanged

Standard & Poor's said that Regal Entertainment Group's B+ ratings and stable outlook are not affected by the company's announcement that it has declared a special dividend of $1.40 per share, roughly $216 million.

The company also said that it intends to increase its quarterly dividend by 17% to $0.21 per share.

S&P said annual dividends, pro forma for the increase, will be about 24% of EBITDA for the last 12 months ended Sept. 30 and that the special dividend will be funded with a portion of the company's cash balances.

Following the special dividend and the increase in the company's quarterly dividend, Regal's liquidity profile will remain adequate, S&P said.

For the 12 months ended Sept. 30, the lease-adjusted debt-to-EBITDA ratio was 5.9 times.

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