Ark Restaurants Announces Declaration of Dividend

Rhea-AI Summary

ARKR: Ark Restaurants Corp. Declares $0.1875 Cash Dividend, Board's Discretion on Future Dividends

Positive

• Cash dividend of $0.1875 per share declared by Ark Restaurants Corp.
• Future dividend decisions at the discretion of the Board based on operating performance and other factors

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Ark Restaurants Corp. (NASDAQ:ARKR) announced today that the Board of Directors (the "Board") declared a cash dividend of $0.1875 per share to be paid on December 13, 2023 to shareholders of record at the close of business on November 30, 2023. Future decisions to pay dividends, and the amount of any dividend, are at the discretion of the Board and will depend upon the Company's operating performance and other factors.

About Ark Restaurants Corp.

Ark Restaurants owns and operates 17 restaurants and bars, 16 fast food concepts and catering operations primarily in New York City, Florida, Washington, D.C, Las Vegas, Nevada and the gulf coast of Alabama. Four restaurants are located in New York City, one is located in Washington, D.C., five are located in Las Vegas, Nevada, one is located in Atlantic City, New Jersey, four are located on the east coast of Florida and two are located on the Gulf Coast of Alabama. The Las Vegas operations include four restaurants within the New York-New York Hotel & Casino Resort and operation of the hotel's room service, banquet facilities, employee dining room and six food court concepts and one restaurant within the Planet Hollywood Resort and Casino. In Atlantic City, New Jersey, the Company operates a restaurant in the Tropicana Hotel and Casino. The Florida operations include the Rustic Inn in Dania Beach, Shuckers in Jensen Beach, JB’s on the Beach in Deerfield Beach, Blue Moon Fish Company in Lauderdale-by-the-Sea and the operation of four fast food facilities in Tampa and six fast food facilities in Hollywood, each at a Hard Rock Hotel and Casino operated by the Seminole Indian Tribe at these locations. In Alabama, the Company operates two Original Oyster Houses, one in Gulf Shores and one in Spanish Fort.

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108599391/en/

Anthony J. Sirica

(212) 206-8800

ajsirica@arkrestaurants.com

Source: Ark Restaurants Corp.

What is the cash dividend declared by Ark Restaurants Corp.?

Ark Restaurants Corp. declared a cash dividend of $0.1875 per share.

When will the cash dividend be paid?

The cash dividend will be paid on December 13, 2023.

What factors will determine future dividend decisions?

Future decisions to pay dividends, and the amount of any dividend, are at the discretion of the Board and will depend upon the Company's operating performance and other factors.