Ameristar Casinos Increases Cash Dividend by 19%
January 30 2012 - 8:30AM
Marketwired
Ameristar Casinos, Inc. (NASDAQ: ASCA) today announced that its
Board of Directors has declared a quarterly cash dividend of $0.125
per share, payable March 15, 2012 to stockholders of record as of
Feb. 29, 2012. This represents an annual rate of $0.50 per share, a
19% increase over the annual dividend for 2011.
"As a result of our strong operational performance and free cash
flow, we are pleased to increase the amount we are returning to our
shareholders," said Gordon Kanofsky, Ameristar's Chief Executive
Officer. "In addition to our dividend policy, we are focused on
increasing shareholder value in a number of ways: by reducing our
outstanding debt, through the opportunistic repurchase of shares
and through future acquisitions and new developments."
Forward-Looking Information This release
contains certain forward-looking information that generally can be
identified by the context of the statement or the use of
forward-looking terminology, such as "believes," "estimates,"
"anticipates," "intends," "expects," "plans," "is confident that,"
"should" or words of similar meaning, with reference to Ameristar
or our management. Similarly, statements that describe our future
plans, objectives, strategies, financial results or position,
operational expectations or goals are forward-looking statements.
It is possible that our expectations may not be met due to various
factors, many of which are beyond our control, and we therefore
cannot give any assurance that such expectations will prove to be
correct. For a discussion of relevant factors, risks and
uncertainties that could materially affect our future results,
attention is directed to "Item 1A. Risk Factors" and "Item 7.
Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Annual Report on Form 10-K for the
year ended December 31, 2010, "Item 1A. Risk Factors" in our
Quarterly Report on Form 10-Q for the quarter ended June 30, 2011
and "Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations" in our Quarterly Report on
Form 10-Q for the quarter ended September 30, 2011.
About Ameristar Ameristar Casinos is an
innovative casino gaming company featuring the newest and most
popular slot machines. Our 7,500 dedicated team members pride
themselves on delivering consistently friendly and appreciative
service to our guests. We continuously strive to increase the
loyalty of our guests through the quality of our slot machines,
table games, hotel, dining and other leisure offerings. Our eight
casino hotel properties primarily serve guests from Colorado,
Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi,
Missouri, Nebraska and Nevada. We have been a public company since
1993, and our stock is traded on the Nasdaq Global Select Market.
We generate more than $1 billion in net revenues annually.
Visit Ameristar Casinos' website at www.ameristar.com (which
shall not be deemed to be incorporated in or a part of this news
release).
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CONTACT: Tom Steinbauer Senior Vice President, Chief
Financial Officer Ameristar Casinos, Inc. 702-567-7000
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