Speedway Motorsports Declares $0.305 Cash Dividend; Completes Exchange Offer.Sports Editors/Business Editors CONCORD, N.C.--(BUSINESS WIRE)--Oct. 1, 2003 Speedway Motorsports, Inc. (NYSE NYSE See: New York Stock Exchange :TRK) today declared a cash dividend of $0.305 per share of common stock. The annual dividend will be payable on Nov. 14, 2003 to shareholders of record as of Oct. 31, 2003. This is the second consecutive year that Speedway Motorsports has paid a cash dividend to its stockholders. The dividend represents an increase over the prior year. The Board of Directors of the motorsports entertainment company unanimously decided to declare the dividend after reviewing the market for the Company's stock, current business conditions and future prospects of the Company. The Company also announced that it had completed the exchange of all of the outstanding unregistered 6 3/4% Senior Subordinated Notes due 2013, that were issued in a private transaction on May 16, 2003, for new registered 6 3/4% Senior Subordinated Notes due 2013. Speedway Motorsports is a leading marketer and promoter of motorsports entertainment in the United States. The Company owns and operates the following premiere facilities: Atlanta Motor Speedway Atlanta Motor Speedway (formerly Atlanta International Raceway) is a superspeedway in Hampton, Georgia, twenty miles (32 km) south of Atlanta. It is a 1.54-mile (2.48 km) quad-oval track with a seating capacity of over 125,000. It opened in 1960 as a 1.5 mile standard oval. , Bristol Motor Speedway Bristol Motor Speedway, originally known as Bristol International Raceway and Bristol Raceway is a NASCAR short track located in Bristol, Tennessee. It was constructed in 1960, and held its first NASCAR race on July 30, 1961. , Infineon Raceway, Las Vegas Motor Speedway Las Vegas Motor Speedway, located in Clark County, Nevada, just outside Las Vegas, is a 1,200 acre (4.9 km²) complex of four different tracks for automobile racing. The complex is owned by Speedway Motorsports, Inc., which is headquartered in Charlotte, North Carolina. , Lowe's Motor Speedway Lowe's Motor Speedway (formerly Charlotte Motor Speedway) is a speedway in Concord, North Carolina, north of Charlotte. It features a 1.5 mile long quad-oval track that seats 167,000 people, with room for 50,000 more spectators in the infield. and Texas Motor Speedway Texas Motor Speedway is a superspeedway located in the northernmost portion of the U.S. city of Fort Worth, Texas -- the portion located in Denton County, Texas. The track layout is very similar to Atlanta Motor Speedway and Lowe's Motor Speedway (formerly Charlotte Motor . The Company provides souvenir merchandise services through its SMI Properties subsidiary and manufactures and distributes smaller-scale, modified race cars through its 600 Racing subsidiary. The Company also owns Performance Racing Network which broadcasts syndicated motorsports programming to more than 725 radio stations nationwide. For more information visit the Company's Website at www.gospeedway.com. |
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