RCI Hospitality cuts dividend by 25%

RCI Hospitality Holdings, Inc. (RICK) will lower its quarterly dividend from 4 cents to 3 cents per share.

The next dividend is payable December 26, 2019, to holders of record December 10, 2019, with an ex-dividend date of December 9, 2019. A new annual dividend rate of 12 cents per share yields 0.6% at a stock price of $19.10.

RCI Hospitality Holdings operates gentlemen's clubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas/Ft. Worth, Houston, Miami, Minneapolis, St. Louis, Charlotte, Pittsburgh, and other markets operate under brand names, such as Rick's Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie's Cabaret, and Scarlett's Cabaret. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.

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