SeaWorld is tumbling after slicing its dividend (SEAS)

SeaWorld shares are sliding after the company cut its dividend.
The beleaguered theme park company said in a press release on Monday that it is lowering its dividend payout to $0.10 per share from $0.21 per share previously. In addition, the board of directors announced that it will no longer issue a dividend after the payment this quarter.
Instead of issuing a dividend, the firm announced it would be "opportunistically repurchasing the company's shares in the open market." The re