CONCORD, N.C.--(BUSINESS WIRE)--
Speedway Motorsports, Inc. (SMI) (NYSE:TRK) on February 12, 2014
declared a quarterly cash dividend of 15 cents per share of common
stock. The quarterly dividend will be payable on March 14, 2014, to
shareholders of record at the close of business on February 28, 2014.
The Board of Directors also approved continuation of the company's
previously announced stock repurchase program and increased the number
of shares authorized for repurchase by 1 million shares for a total of 5
million shares authorized under the program, leaving a balance of
1,103,607 shares available for repurchase.
Speedway Motorsports, Inc. is a leading marketer, promoter and sponsor
of motorsports entertainment in the United States. The Company, through
its subsidiaries, owns and operates the following premier facilities:
Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor
Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire
Motor Speedway, Sonoma Raceway and Texas Motor Speedway. The Company
provides souvenir merchandising services through its SMI Properties
subsidiaries; manufactures and distributes smaller-scale, modified
racing cars and parts through its U.S. Legend Cars International
subsidiary; and produces and broadcasts syndicated motorsports
programming to radio stations nationwide through its Performance Racing
Network subsidiary. For more information about Speedway Motorsports,
This news release contains forward-looking statements, particularly
statements with regard to our future operations and financial results.
There are many factors that affect future events and trends of our
business including, but not limited to, economic factors, geopolitical
conditions, weather, the success of NASCAR and others as sanctioning
bodies, the success of our Motorsports Authentics merchandising joint
venture, capital projects and expansion, financing needs, and a host of
other factors both within and outside of management control. These
factors and other factors, including those contained in our Annual
Report on Form 10-K and subsequently filed Quarterly Reports on Form
10-Q, involve certain risks and uncertainties that could cause actual
results or events to differ materially from management's views and
expectations. Inclusion of any information or statement in this news
release does not necessarily imply that such information or statement is
material. The Company does not undertake any obligation to release
publicly revised or updated forward-looking information, and such
information included in this news release is based on information
currently available and may not be reliable after this date.
Speedway Motorsports, Inc.
Janet Kirkley, 704-532-3318
Source: Speedway Motorsports, Inc.