May 12, 2011 / 11:06 AM / 7 years ago

CORRECTED-UPDATE 1-Cineplex posts Q1 loss on low box-office attendance

(Corrects net loss figure in paragraph 5 to C$848,000)

* Q1 rev down 13 pct to C$221.4 mln

* Q1 box office rev declines 18 pct to C$129,956

* Ups quarterly dividend to C$0.1075 per share (Follows alerts)

May 12 (Reuters) - Canada’s Cineplex Galaxy Inc , owner of movie exhibitor Cineplex Entertainment LP, posted a first-quarter loss as both box-office attendance and revenue per patron slipped.

However, the company increased its quarterly dividend by 3 percent to 10.75 Canadian cents per share.

Total revenue for the first quarter fell 13 percent to $221.4 million.

Box-office revenue declined about 18 percent to C$129,956, as attendance fell to 15.3 million.

Net loss for the January-March quarter, was C$848,000 compared with C$3.8 million, a year ago.

The company which was a fund, converted to a corporation in January this year.

The Toronto-based company’s shares closed at C$25.24 on Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Roshni Menon)

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