DexCom earnings beat by $0.03, revenue topped estimates
HOUSTON - RCI Hospitality Holdings, Inc. (NASDAQ:RICK), a leading operator of adult nightclubs and sports bars/restaurants, has declared a quarterly cash dividend for its fiscal 2025 second quarter. Shareholders on record by the close of business on March 17, 2025, will receive a dividend of $0.07 per common share, payable on March 31, 2025. The company currently offers a dividend yield of 0.56% and has consistently raised its dividend for six consecutive years.
This recent announcement signifies the company’s 37th consecutive quarter of dividend payouts, a practice that began in the fiscal second quarter of 2016. RCI Hospitality Holdings operates over 60 locations across the United States and has established itself as a prominent player in the adult entertainment and hospitality sectors, maintaining impressive gross profit margins of 84.68%.
The dividend declaration is a routine element of the company’s financial schedule and reflects its ongoing commitment to return value to its shareholders. The consistent payment history may be of interest to current and potential investors as an indicator of RCI Hospitality Holdings’ financial health and its management’s confidence in the company’s cash flow stability.
As a matter of transparency, this news is based on a press release statement from RCI Hospitality Holdings, Inc. The company’s stock performance and investment details can be tracked on the NASDAQ exchange under the ticker symbol RICK.
In other recent news, RCI Hospitality Holdings reported mixed fiscal first-quarter sales, with its nightclub segment showing a 1.2% increase in total sales, reaching $61.3 million. However, its Bombshells restaurant chain saw a 24.7% decline in sales, totaling $9.6 million, due to strategic closures of underperforming locations. The company also completed the acquisition of Detroit’s Flight Club for $11 million, which is expected to add approximately $2 million to its annualized adjusted EBITDA. Analysts at H.C. Wainwright maintained a Buy rating on RCI Hospitality, with a price target of $98, following strong fourth-quarter results and optimistic management remarks. The company’s adjusted EBITDA for the fourth quarter exceeded expectations, reaching $17.9 million.
Additionally, RCI Hospitality announced a change in its independent auditor, transitioning to CBIZ (NYSE:CBZ) CPAs P.C. after the acquisition of Marcum LLP’s attest business. This change follows Marcum’s identification of material weaknesses in RCI’s internal controls over financial reporting. RCI Hospitality is also set to open new restaurant properties in 2025, including its first downtown location, as part of its strategy to achieve a 15.0% restaurant margin. The company aims for $400 million in revenue and $75 million in free cash flow by 2029, with potential acquisitions of new clubs on the horizon to support these goals.
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