Preferred Stock Tips and Topics

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Six Flags Preferred Stock News

NEW YORK, Jan. 26 /PRNewswire-FirstCall/ -- Six Flags, Inc. (NYSE: SIX) announced today that its Board of Directors decided not to declare and pay a quarterly dividend on its outstanding Preferred Income Equity Redeemable Securities ("PIERS") for the quarter ending February 15, 2009, each such PIERS representing one one-hundredth of a share of the Company's 7 1/4% Convertible Preferred Stock.

Under the terms of the PIERS, dividends are not required to be paid currently and any unpaid dividends accumulate without interest. The Board's decision not to declare and pay the February 15, 2009 dividend does not violate any covenants under any of the Company's debt agreements. The Company's deficit in stockholders' equity(1), the overall state of the credit markets and the fact that unpaid dividends accumulate on an interest-free basis, were factors that the Board considered in reaching its decision not to declare and pay the quarterly dividend. The Board will continue to evaluate all facts and circumstances, including relevant legal restrictions, prior to any future PIERS payments.




/CONTACT: Media, Sandra Daniels, [phone]; or Investors, William Schmitt, [phone]

/Web site: http://www.sixflags.com