RCI Increases Annual Cash Dividend on Common Stock by 7.7%

HOUSTON – February 20, 2020 – RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced it has increased the company's annual cash dividend by 7.7%, to $0.14 from $0.13 per share, with the declaration of a quarterly cash dividend of $0.04 per common share for the Fiscal 2020 second quarter ending March 31, 2020.

RCI's $0.14 per share annual dividend is expected to be paid as follows:

  • $0.03 for the first quarter ended December 31, 2019 (previously declared)
  • $0.04 for the second quarter ending March 31, 2020 (declared today)
  • $0.03 for the third fiscal quarter ending June 30, 2020 (to be declared)
  • $0.04 for the fourth fiscal quarter ending September 30, 2020 (to be declared)

The 2Q20 dividend is payable March 25, 2020, to holders of record March 10, 2020, with an ex-dividend date of March 9, 2020.

This marks RCI's second annual dividend increase and its 17th consecutive quarterly cash dividend paid.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)

p>With more than 40 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in gentlemen's clubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas/Ft. Worth, Houston, Miami, Minneapolis, St. Louis, Charlotte, Pittsburgh, and other markets operate under brand names, such as Rick's Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie's Cabaret, and Scarlett's Cabaret. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar. Please visit http://www.rcihospitality.com

Forward-Looking Statements

This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this press release, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) our ability to maintain compliance with the filing requirements of the SEC and the Nasdaq Stock Market, and (vii) numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

Media & Investor Contacts

Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com