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SeaWorld to start paying quarterly dividends

ORLANDO, Fla. (AP) -- Theme park operator SeaWorld Entertainment Inc. said Wednesday it will begin paying quarterly dividends, starting with a payment of 20 cents per share on July 1.

SeaWorld, best known for its water shows featuring killer whales and dolphins, said the dividend will be payable to shareholders of record as of June 20. The company has 93.3 million shares on the market as of May 20, meaning SeaWorld will pay about $18.7 million in dividends.

In May the company said its first-quarter loss shrank thanks to a double-digit increase in its revenue as customers spent more on admissions, food and merchandise.

SeaWorld's IPO priced at $27 per share in April. The stock fell 39 cents to $36.63 Wednesday, but is up nearly 36 percent from the IPO.