SeaWorld Entertainment Inc (NYSE:SEAS) has slashed its dividends by half and ended future payouts after a controversy over killer whale breeding.
The group is reducing payments to shareholders on the register at Sept. 29 to 10 cents a share from 21 cents a share, before halting future payments.
Attendances at the theme park in Orlando, Florida have been falling following a campaign by animal lovers against keeping the mammals in captivity.
Negative publicity has forced Seaworld to stop using the animals in shows and to cease breeding them. It is focusing instead on non-animal related attractions such as ocean-themed rides.
Chief executive Joel Manby said the dividend moves would underpin the longer-term development of the business.
“We will remain disciplined and regularly assess our allocation of capital,” he said.
Shares in Seaworld fell US$0.46 cents, or 3.6%, to US$12.23 in early New York trading.