SCOTTSDALE, Ariz., March 12 /PRNewswire-FirstCall/ -- Star Buffet, Inc.
(Nasdaq: STRZ) a multi-concept restaurant operator today announced that the
Board of Directors has authorized payment of the Company's annual dividend of
$0.60 per common share. This is the fifth consecutive year the Company has
paid an annual dividend which this year is payable on June 4, 2008 to
shareholders of record on May 6, 2008.
Robert E. Wheaton, Star Buffet's President and CEO stated, "This payment
reflects the Board's confidence that the Company's restructured portfolio of
restaurants will provide profitable growth and enhanced cash generating
capabilities."
Safe Harbor Statement
Statements that are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties, and actual
results could vary materially from the descriptions contained herein due to
many factors, including, but not limited to, product demand and market
acceptance risks, the effect of economic conditions, the impact of competitive
products and pricing, the results of financing efforts, implementation of the
Company's acquisition and strategic alliance strategy, the effect of the
Company's accounting policies and other risks detailed in the Company's Form
10-K for its fiscal year ended January 29, 2007 and other filings with the
Securities and Exchange Commission. Copies of all of the Company's filings
with the SEC are available to the public on the SEC's web site at
http://www.sec.gov. The Company undertakes no obligation to update any
forward-looking statements.
About Star Buffet
Star Buffet is a multi-concept restaurant operator. As of March 12, 2008,
Star Buffet, through its subsidiaries, operates 20 Barnhill's Buffet
restaurants, 12 franchised HomeTown Buffets, seven JB's Family restaurants,
five Whistle Junction restaurants, four BuddyFreddys restaurants, three 4B's
restaurants, three Holiday House Family restaurants, three Western Sizzlin
restaurants, two K-BOB's Steakhouses, two JJ North's Country Buffet, one Pecos
Diamond Steakhouse, one Bar H Steakhouse and one Casa Bonita Mexican theme
restaurant.
SOURCE Star Buffet, Inc.