Country Star Restaurants declares preferred stock dividend.LOS ANGELES--(BUSINESS WIRE)--Jan. 15, 1997--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 Symbols: CAFE and CAFEP CAFEP Certificat d'Aptitude aux Fonctions d'Enseignement du Privé (French) ) announced today that the company's quarterly dividend on its 6% 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. will be paid in shares of the company's Common Stock to those individuals and entities who were holders of record of the Series A Preferred Stock on Dec. 27, 1996. Each such holder of record shall be entitled to receive a dividend of .09 shares of the company's common stock for each share of Series A Preferred Stock. The company expects that the dividend payment will be received by stockholders on or about Jan. 24, 1997. Country Star Restaurants Inc. 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. Peter R. Feinstein, 310/268-2200 |
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