International Speedway (ISCA) Raises Annual Dividend 57.7% to $0.41; Announces Executive Changes

International Speedway (NASDAQ: ISCA) declared an annual dividend of $0.41 per share, or $0.41 annualized. This is a 57.7% increase from the prior dividend of $0.26.

The dividend will be payable on June 30, 2016, to stockholders of record on May 31, 2016, with an ex-dividend date of May 26, 2016.

The annual yield on the dividend is 1.2 percent.

ISC appointed two key employees to Company officers for their significant contributions and achievements. Jeff Boerger, Managing Director of ISC Development and President of Kansas Speedway Development Corporation has been promoted to Vice President, ISC Corporate Development and President, Kansas Speedway Development Corporation; and Derek Muldowney, Executive Vice President of ISC Design and Development, has been promoted to Vice President, ISC and President, Design and Development.

ISC’s executive leadership team is strategically positioned to continue execution of its capital allocation plan driving development efforts focused on improving the fan experience and extending the visitor stay. Boerger and Muldowney will drive planned redevelopments at Richmond International Raceway and Phoenix International Raceway, along with construction of ONE DAYTONA, its new mixed-use and entertainment destination across from Daytona International Speedway set to open in 2017.

“In Jeff and Derek, we add seasoned leaders who have proven their ability to consistently perform at the highest level,” stated Kennedy. “Senior leadership will benefit from their deep construction and development insights as we work to grow all areas of our business.”

As Vice President, Boerger will maintain oversight of all company-owned and operated real estate, including more than 13,000 acres and ISC’s interest in the partnership that operates the Hollywood Casino at Kansas Speedway. His growing role in development activities includes leadership of ONE DAYTONA managing the relationship with the development’s hotel and residential partners and development consultant Legacy Development.

In his previous role, Muldowney was responsible for the successful delivery of several large-scale motorsports developments, including the recently-completed $400 million DAYTONA Rising project, creating the world’s first and only modern motorsports stadium. As Vice President of ISC, he will continue leading the Company’s design, construction and development subsidiary focused on ONE DAYTONA and planned redevelopment projects at the Richmond and Phoenix facilities.

Separately, at the annual meeting of ISC shareholders, the following members of the Company’s Board of Directors were re-elected to a three-year term: Christy F. Harris; Morteza Hosseini; and William P. Graves.

For a dividend history and other dividend-related data on International Speedway (ISCA) click here.

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