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AMC also announced a special dividend in the form of preferred stock, to paid on Aug. 19. The company will issue one preferred equity unit for each of the 516.8 million class A common stock.
With COVID receding, consumers are increasingly returning to outdoor forms of leisure including going to the cinemas.
During the quarter, top-grossing releases including “Doctor Strange in the Multiverse of Madness” and “Jurassic World Dominion” helped cinema chains continue their recovery after COVID-related closures halted movie screenings until at least the middle of last year.
Revenue in the quarter ending June 30 rose to $1.17 billion from $444.7 million a year earlier, inching past analysts’ estimate of $1.16 billion, according to Refinitiv data.
