Frisch's Restaurants, Inc. Declares 12.5% Increase in Its 211th Consecutive Quarterly Dividend
CINCINNATI, Sept. 12, 2013 /PRNewswire/ -- Frisch's Restaurants, Inc. (NYSE MKT: FRS) announced today that the Board of Directors declared a $0.18 per share quarterly dividend payable October 10, 2013 to shareholders of record at the close of business on September 26, 2013. This represents an increase of two cents per share, or 12.5%, in the regular quarterly dividend rate, and will be the 211th consecutive quarterly dividend paid by Frisch's. The Company has reported a profit every year since going public in 1960, and paid cash dividends to shareholders every quarter over the same period.
Craig F. Maier, President and Chief Executive Officer, said, "The Board of Directors has elected to increase the quarterly dividend as a vote of confidence in the Company's future. We value our shareholders' investment in Frisch's and are pleased to share our financial success through the dividend."
About Frisch's Restaurants, Inc.
Frisch's is a regional company that operates full service family-style restaurants under the name "Frisch's Big Boy." All Big Boy restaurants are currently located in various regions of Ohio, Kentucky and Indiana.
The Company owns the trademark "Frisch's" and has exclusive, irrevocable ownership of the rights to the "Big Boy" trademark, trade name and service marks in the states of Kentucky and Indiana, and in most of Ohio and Tennessee. All of the Frisch's Big Boy restaurants also offer "drive-thru" service. The Company also licenses Big Boy restaurants to other operators, currently in certain parts of Ohio, Kentucky and Indiana.
SOURCE Frisch's Restaurants, Inc.