FAT Brands Inc. Announces Quarterly Dividend
LOS ANGELES--(BUSINESS WIRE)--Oct 8, 2018--FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”), a leading global restaurant franchising company, today announced that its Board of Directors has declared a quarterly cash dividend of $0.12 per share of common stock. The dividend is payable on October 31, 2018 to stockholders of record as of the close of business on October 18, 2018.
The Company also intends to launch a Dividend Reinvestment Plan (“DRIP”), under which interested stockholders may reinvest all or a portion of their cash dividends in additional common shares of FAT Brands without paying any brokerage commission or service charge. The DRIP will be administered by the Company’s transfer agent, which will distribute plan enrollment materials and information to stockholders in the coming weeks. The Company’s controlling stockholder, Fog Cutter Capital Group, intends to reinvest its cash dividend into the Company as provided under the DRIP thereby allowing the Company to retain capital to continue its growth plans.
The declaration and payment of future dividends, as well as the amount thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns six restaurant brands, Fatburger, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, and Ponderosa and Bonanza Steakhouses, that have over 300 locations open and more than 300 under development in 32 countries.
For more information, please visit www.fatbrands.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Company’s future financial and operating results and cash flow, expected growth in the Company’s portfolio of brands, and its intention and ability to declare and pay future dividends. The Company’s future financial performance may differ materially from that expressed or implied in these forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, including our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results and events to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
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CONTACT: Investor Relations:
PCG Advisory Group
Shelby Robinson/Rebecca Campbell
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: RESTAURANT/BAR RETAIL FOOD/BEVERAGE
SOURCE: Fat Brands Inc.
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PUB: 10/08/2018 08:30 AM/DISC: 10/08/2018 08:30 AM