RCI Announces 33rd Consecutive Quarterly Cash Dividend

Rhea-AI Summary

RCI Hospitality Holdings, Inc. (RICK) declared a quarterly cash dividend of $0.06 per common share for the fiscal 2024 second quarter, payable on March 29, 2024. This marks their 33rd consecutive quarterly cash dividend.

Financial Analyst

The declaration of a quarterly cash dividend of $0.06 per common share by RCI Hospitality Holdings indicates a sustained return to shareholders, reflecting the company's current financial health and confidence in its cash flow stability. The consistency of dividend payments, now at 33 consecutive quarters, typically appeals to income-focused investors and can be a sign of a mature, stable business.

However, it is crucial to assess the dividend yield, which is the dividend per share divided by the stock price. In comparison to industry averages and historical yields, this figure can provide insight into the attractiveness of RCI's dividend in relation to its stock price. Additionally, the payout ratio, which is the percentage of earnings paid out as dividends, should be examined to evaluate the sustainability of these dividends without compromising future growth or operations.

Market Research Analyst

RCI's dividend announcement can also be indicative of the broader market's health within the hospitality sector. The ability to pay dividends could signal sector resilience or recovery, especially in the context of economic cycles and consumer spending patterns. It is beneficial to analyze sector trends and compare RCI's financial performance and dividend policy with its peers to understand competitive positioning.

Moreover, the market's reaction to the dividend announcement can offer insights into investor sentiment. An unchanged or positive stock price movement post-announcement could suggest market approval, whereas a negative reaction might indicate that the dividend was below investor expectations or that there are concerns about the company's future growth prospects.

HOUSTON , Feb. 28, 2024 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced today it has declared a quarterly cash dividend of $0.06 per common share for the fiscal 2024 second quarter ending March 31, 2024. The 2Q24 dividend is payable March 29, 2024 to holders of record March 15, 2024 with an ex-dividend date of March 14, 2024. This marks RCI's 33rd consecutive quarterly cash dividend.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc)

With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars/restaurants. See all our brands at www.rcihospitality.com.

Media & Investor Contacts

Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com

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SOURCE RCI Hospitality Holdings, Inc.

What is the dividend amount declared by RCI Hospitality Holdings, Inc. (RICK) for the fiscal 2024 second quarter?

RCI Hospitality Holdings, Inc. (RICK) declared a quarterly cash dividend of $0.06 per common share for the fiscal 2024 second quarter.

When is the dividend payable for RCI Hospitality Holdings, Inc. (RICK) shareholders?

The dividend declared by RCI Hospitality Holdings, Inc. (RICK) for the fiscal 2024 second quarter is payable on March 29, 2024.

How many consecutive quarterly cash dividends has RCI Hospitality Holdings, Inc. (RICK) declared?

RCI Hospitality Holdings, Inc. (RICK) has declared their 33rd consecutive quarterly cash dividend.