CINCINNATI, Aug. 22, 2012 /PRNewswire/ -- As
previously announced, Frisch's Restaurants, Inc. (NYSE MKT:
FRS) declared a special one-time cash dividend of $9.50 per share payable on September 14, 2012, to shareholders of record on
August 31, 2012. This dividend
is taxable as an ordinary dividend and not as a return on
capital.
For material special dividends, the rules of the New York Stock
Exchange require the ex-dividend date to be one business day after
the payment date. Accordingly, the ex-dividend date has been
set for Monday, September 17, 2012.
Shares of the Company's stock will trade with "due-bills" beginning
August 29, 2012 (two business days
prior to the record date) through the September 14, 2012 payment date. Shareholders who
sell their shares before the payment date will not be entitled to
receive the special cash dividend from the Company.
Due-bills obligate sellers (who were shareholders of record on
August 31) to deliver the dividend to
the buyer. The due-bill obligations are settled customarily
between the brokers representing the buyers and sellers of the
stock. Frisch's has no obligations for either the amount of
the due-bill or the processing of the due-bill.
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.
Statements contained in this press release which are not
historical facts are forward looking statements as that item is
defined in the Private Securities Litigation Act of 1995. Such
forward looking statements are subject to risks and uncertainties
which could cause actual results to differ materially from
estimated results. Such risks and uncertainties are detailed in the
company's filings with the Securities and Exchange Commission.
SOURCE Frisch's Restaurants, Inc.