HOUSTON – RCI Hospitality Holdings, Inc. (NASDAQ:RICK), a leading company in adult nightclubs and sports bars/restaurants, has declared a quarterly cash dividend of $0.07 per common share for the fiscal first quarter of 2025 ending December 31, 2024. The dividend is scheduled to be paid on December 30, 2024, to shareholders of record as of December 16, 2024. According to InvestingPro data, the company has consistently raised its dividend for 5 consecutive years, with the current dividend yield standing at 0.55%.
This announcement marks the company's 36th consecutive quarter of cash dividends since the initiation of this practice in the fiscal second quarter of 2016. The consistent payment of quarterly dividends reflects RCI Hospitality's commitment to returning value to its shareholders.
RCI Hospitality Holdings operates over 60 locations across the United States. The company's portfolio includes a variety of adult entertainment venues and sports bars/restaurants, catering to a diverse clientele.
The declaration of the dividend follows RCI Hospitality's established pattern of distributing profits to its shareholders and underscores the company's financial stability and its ability to generate consistent cash flow.
This dividend payment is in line with the company's historical dividend policy and represents a continuation of its practice to share a portion of its earnings with investors. The payment of regular dividends can be an indicator of a company's performance and its confidence in ongoing profitability.
Investors and shareholders are advised that this information is based on a press release statement from RCI Hospitality Holdings, Inc. As with all investments, it is important to conduct thorough research and consider the overall market conditions before making any financial decisions.
In other recent news, RCI Hospitality Holdings has announced the closure of two Bombshells locations and the planned sale of a third in Texas. These actions are part of RCI's strategic efforts to enhance the performance of its Bombshells segment. The financial specifics related to these actions will be disclosed in the forthcoming report of RCI's fourth quarter and year-end results. In addition, RCI has been the subject of several significant developments. Despite a minor 2.6% drop in fourth-quarter sales, the company received a reaffirmed Buy rating from H.C. Wainwright, which anticipates potential revenue growth in fiscal 2025 due to the opening of six new properties. RCI also reported significant share repurchase activity and an increased quarterly dividend. RCI's strategic focus and potential for significant revenue growth in 2025 have been highlighted by H.C. Wainwright. These are the recent developments for RCI Hospitality Holdings.
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