International Speedway Declares Annual Dividend
April 13 2006 - 5:23PM
PR Newswire (US)
~Shareholders Re-Elect Five Directors and Approve Long-Term
Incentive Plan~ DAYTONA BEACH, Fla., April 13
/PRNewswire-FirstCall/ -- International Speedway Corporation
(NASDAQ:ISCA) (OTC:ISCB) (BULLETIN BOARD: ISCB) ("ISC") today
announced an increase in its annual dividend and the re-election of
five Board of Directors members. ISC declared an annual dividend of
$0.08 per share, payable on June 30, 2006, to common stockholders
of record on May 31, 2006, marking the 33rd consecutive year that
the Company has paid a dividend to its shareholders. ISC paid an
annual dividend of $0.06 per share in 2005. Separately, at the
annual meeting of its shareholders, the following members of ISC's
Board of Directors were re-elected to a three-year term: Lesa
France Kennedy, 44; Larry Aiello, Jr., 56; J. Hyatt Brown, 68;
Edward H. Rensi, 61; and Thomas W. Staed, 74. In addition, ISC
shareholders approved the Company's 2006 Long-Term Incentive Plan
(the "2006 Plan"). The purpose of the 2006 Plan is (i) to provide
key employees (including officers and directors), consultants and
advisors of the Company with increased financial incentives to make
significant and extraordinary contributions to the long- term
performance and growth of ISC; (ii) to join the interests of such
key employees, consultants and advisors with the interests of the
shareholders of the Company; and (iii) to facilitate attracting and
retaining key employees, consultants and advisors. The 2006 Plan
replaces and is similar in all material aspects to ISC's 1996
Long-Term Incentive Plan, which included a ten- year effective term
that expires later this year. International Speedway Corporation is
a leading promoter of motorsports activities in the United States,
currently promoting more than 100 racing events annually as well as
numerous other motorsports-related activities. The Company owns
and/or operates 11 of the nation's major motorsports entertainment
facilities, including Daytona International Speedway in Florida
(home of the Daytona 500); Talladega Superspeedway in Alabama;
Michigan International Speedway located outside Detroit; Richmond
International Raceway in Virginia; California Speedway near Los
Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix
International Raceway in Arizona; Homestead-Miami Speedway in
Florida; Martinsville Speedway in Virginia; Darlington Raceway in
South Carolina; and Watkins Glen International in New York. Other
motorsports entertainment facility ownership includes an indirect
37.5 percent interest in Raceway Associates, LLC, which owns and
operates Chicagoland Speedway and Route 66 Raceway near Chicago,
Illinois. The Company also owns and operates MRN Radio, the
nation's largest independent sports radio network; DAYTONA USA, the
"Ultimate Motorsports Attraction" in Daytona Beach, Florida, the
official attraction of NASCAR; and subsidiaries which provide
catering services, food and beverage concessions, and produce and
market motorsports-related merchandise under the trade name
"Americrown." In addition, the Company has an indirect 50 percent
interest in a business called Motorsports Authentics, which markets
and distributes motorsports-related merchandise licensed by certain
competitors in NASCAR racing. For more information, visit the
Company's Web site at http://www.iscmotorsports.com/ . Statements
made in this release that express the Company's or management's
beliefs or expectations and which are not historical facts or which
are applied prospectively are forward-looking statements. It is
important to note that the Company's actual results could differ
materially from those contained in or implied by such
forward-looking statements. The Company's results could be impacted
by risk factors, including, but not limited to, weather surrounding
racing events, government regulations, economic conditions,
consumer and corporate spending, military actions, air travel and
national or local catastrophic events. Additional information
concerning factors that could cause actual results to differ
materially from those in the forward- looking statements is
contained from time to time in the Company's SEC filings including,
but not limited to, the 10-K and subsequent 10-Qs. Copies of those
filings are available from the Company and the SEC. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be needed to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by International Speedway
or any other person that the events or circumstances described in
such statement are material. DATASOURCE: International Speedway
Corporation CONTACT: Wes Harris, Senior Director, Corporate and
Investor Communications, +1-386-947-6465 Web site:
http://www.iscmotorsports.com/
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