Dover Motorsports (DVD) will cut its dividend by 30 percent to 7 cents per share in 2020. Last year DVD raised its annual dividend by 25.0 percent to $0.10 per share. This is the first dividend cut by the promoter of NASCAR sanctioned motorsports events on record.

The next dividend will be payable on December 10, 2020 to shareholders of record at the close of business on November 10, 2020 and yields 4.6% at a stock price of $1.52. A seven cent per share payment results in an annual dividend outflow of approximately $3.0 million to shareholders for the company.

In its press release dated October 28, announcing this dividend cut, the company also mentions: 'While we have historically paid dividends annually, due to the planned reopening of the Nashville Superspeedway, the potential impact of the pandemic on the scheduling of events and other developments in our business, in the future we may re-examine the frequency with which we evaluate and pay dividends.'

Dover Motorsports, Inc. is a promoter of NASCAR sanctioned motorsports events in the United States whose subsidiaries own and operate Dover International Speedway in Dover, Delaware and Nashville Superspeedway near Nashville, Tennessee. Due to the seasonal nature of its business, the company evaluates dividends annually.