RCI Increases Annual Cash Dividend on Common Stock by 8.3%

HOUSTON – August 15, 2019 – RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced it has increased its annual cash dividend by 8.3%, to $0.13 from $0.12 per share, with the declaration of its year-end quarterly cash dividend of $0.04 per common share for the Fiscal 2019 fourth quarter ending September 30, 2019. The 4Q19 dividend is payable September 25, 2019, to holders of record September 10, 2019, with an ex-dividend date of September 9, 2019. This marks RCI's first annual dividend increase and its 15th consecutive quarterly cash dividend paid.

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

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.

Media & Investor Contacts

Gary Fishman and Steven Anreder at 212-532-3232 or [email protected] and [email protected]