Nathan's Announces Quarterly Dividend Policy And Declares Quarterly Cash Dividend Of $.25 Per Share
JERICHO, N.Y. - June 8, 2018 // PRNewswire // - Nathan's Famous, Inc. (NASDAQ: NATH) (the "Company" or "Nathan's") announced today that it intends to pay a regular quarterly cash dividend to holders of its common stock. In connection with this dividend program, the Company's Board of Directors (the "Board") declared a $.25 per share cash dividend payable on June 22, 2018, to shareholders of record at the close of business on June 18, 2018.
The Company noted that the dividend program was facilitated by the Company's operating performance and cash flows as well as anticipated tax savings as a result of the Tax Cuts and Jobs Act of 2017.
While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends, and the establishment of record and payment dates, are subject to final determination by the Board each quarter after its review of the Company's financial performance.
About Nathan's Famous, Inc.
Nathan's is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and fourteen foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 600 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of Nathan's management, as well as assumptions made by and information currently available to Nathan's management. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, Nathan's ability to continue paying a quarterly dividend, a decrease or other change in the cash dividend rate, and other risks and factors identified from time to time in Nathan's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Nathan's does not undertake any obligation to update such forward-looking statements.
Chief Financial Officer
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SOURCE Nathan's Famous, Inc.