Country Star Restaurants Inc. declares preferred-stock dividend.LOS ANGELES--(BUSINESS WIRE)--Nov. 7, 1996--Country Star Restaurants Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CAFE,CAFEP CAFEP Certificat d'Aptitude aux Fonctions d'Enseignement du Privé (French) ) Thursday announced that the company has declared a quarterly dividend on its 6 percent cumulative convertible Series A preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. payable in shares of the company's common stock. Specifically, holders of record of the Series A preferred stock on Sept. 30, 1996, are entitled to receive a dividend of .0695 shares of the company's common stock for each share of Series A preferred stock. The company noted that the dividend payment should have been received by all preferred stockholders on or about Oct. 31, 1996. Country Star Restaurants owns and operates three Country Star American Music Grills: in Hollywood, adjacent to Universal Studios; in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , on the famous ``Strip'' at Harmon Avenue; and in Atlanta, in the upscale Buckhead neighborhood. CONTACT: Country Star Restaurants Inc., Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Peter R. Feinstein, 310/268-2200 |
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