Nathan's Famous (NATH) Declares $5.00 Special Dividend; 6.2% Yield
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Nathan's Announces Completion of Notes Offering and Redemption of 10.000% Senior Secured Notes due 2020; and Declares Special $5.00 Per Share Cash Dividend
November 1, 2017 4:10 PM EDTJERICHO, N.Y., Nov. 1, 2017 /PRNewswire/ -- Nathan's Famous, Inc. (NASDAQ: NATH) ("Nathan's") announced today that it completed its previously announced offering of $150.0 million aggregate principal amount of 6.625% Senior Secured Notes due 2025 (the "Notes").
Nathan's will use the net proceeds of the Notes offering to satisfy and discharge the indenture relating to its 10.000% Senior Secured Notes due 2020 (the "2020 Notes") and redeem the 2020 Notes (the "Redemption"), to pay a portion of a special $5.00 per share cash dividend to Nathan's stockholders of record and to use any remaining net proceeds for general corporate... More
