You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Mass. Movers

Gym chain to pay a $3 dividend

Town Sports has a total of about 522,000 members.

Matthew J. Lee/Globe Staff /File

Town Sports has a total of about 522,000 members.

The owner of the 25-gym Boston Sports Clubs chain, Town Sports International Holdings Inc., will pay a one-time dividend of $3 per share as the company seeks to boost shareholder returns, Dow Jones reported. The New York City company, which has a total of 160 fitness clubs in New York, Washington, Philadelphia, and Switzerland, as well as Boston, expects the special payout to cost $71.4 million. Town Sports will borrow an additional $60 million under its senior secured credit facility to help fund it.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of