J. Alexander's (JAX) Suspends Annual Dividend
JAX Hot Sheet
EPS Growth %: -25.0%
J. Alexander's Corporation (NASDAQ: JAX) has determined that the Company will not pay an annual cash dividend.
Lonnie J. Stout II, Chairman, President and Chief Executive Officer, commented on the dividend decision. "Given the current economic environment, we felt it was prudent to conserve capital and maintain our financial flexibility."
The absence of a dividend payment at this time will have the effect of allowing the previously disclosed Amended and Restated Standstill Agreement between the Company and Solidus Company, L.P. to expire at the close of business on January 15, 2009.
J. Alexander's Corporation operates 33 J. Alexander's restaurants in Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Ohio, Tennessee and Texas. [SM]
Lonnie J. Stout II, Chairman, President and Chief Executive Officer, commented on the dividend decision. "Given the current economic environment, we felt it was prudent to conserve capital and maintain our financial flexibility."
The absence of a dividend payment at this time will have the effect of allowing the previously disclosed Amended and Restated Standstill Agreement between the Company and Solidus Company, L.P. to expire at the close of business on January 15, 2009.
J. Alexander's Corporation operates 33 J. Alexander's restaurants in Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Ohio, Tennessee and Texas. [SM]
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