RCI Hospitality Holdings, Inc. (NASDAQ:RICK) Increases Dividend to $0.08 Per Share

RCI Hospitality Holdings, Inc. (NASDAQ:RICK) announced a quarterly dividend on Tuesday, March 3rd. Shareholders of record on Monday, March 16th will be given a dividend of 0.08 per share by the restaurant operator on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, March 16th. This is a 14.3% increase from RCI Hospitality’s previous quarterly dividend of $0.07.

RCI Hospitality has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. RCI Hospitality has a dividend payout ratio of 4.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RCI Hospitality to earn $6.35 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 4.4%.

RCI Hospitality Price Performance

Shares of NASDAQ RICK traded up $0.51 during midday trading on Wednesday, hitting $23.95. 35,393 shares of the company’s stock were exchanged, compared to its average volume of 72,151. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average price is $23.93 and its two-hundred day moving average price is $26.89. The company has a market cap of $208.84 million, a price-to-earnings ratio of 12.88 and a beta of 0.82. RCI Hospitality has a 12-month low of $21.45 and a 12-month high of $48.70.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RICK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in RCI Hospitality by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,979 shares of the restaurant operator’s stock worth $214,000 after acquiring an additional 234 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of RCI Hospitality by 62.0% during the second quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 324 shares during the period. Invesco Ltd. grew its stake in shares of RCI Hospitality by 4.5% in the second quarter. Invesco Ltd. now owns 12,523 shares of the restaurant operator’s stock worth $477,000 after purchasing an additional 536 shares during the last quarter. State Street Corp increased its holdings in RCI Hospitality by 0.4% during the 4th quarter. State Street Corp now owns 185,138 shares of the restaurant operator’s stock valued at $4,414,000 after purchasing an additional 698 shares during the period. Finally, Barclays PLC raised its position in RCI Hospitality by 7.3% during the 4th quarter. Barclays PLC now owns 17,462 shares of the restaurant operator’s stock valued at $416,000 after purchasing an additional 1,188 shares during the last quarter. 53.82% of the stock is owned by hedge funds and other institutional investors.

About RCI Hospitality

RCI Hospitality Holdings, Inc operates as a diversified hospitality and entertainment company focused on the ownership and operation of adult nightclubs and themed sports bars throughout the United States and select international markets. The company’s U.S. Nightclub segment includes venues branded as Rick’s Cabaret, Club Onyx and various other upscale adult entertainment clubs, offering private dance experiences, VIP services and live performances. Its Restaurant & Bar segment operates Bombshells, a brunch-themed sports bar chain featuring chef-driven menus, craft cocktails and game-day viewing in a military-inspired setting.

In addition to its brick-and-mortar venues, RCI Hospitality deploys proprietary digital platforms for talent recruitment, training and scheduling, helping to streamline operations and drive customer engagement.