Business

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.

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