Ruth's Hospitality Initiates $0.04/Share Quarterly Dividend, Up to $30M Share Buyback

Ruth's Hospitality

today announced that its Board of Directors, as part of the Company's focus on shareholder returns, has approved the initiation of a regular quarterly cash dividend to shareholders. The initial quarterly cash dividend of $0.04 per share will be paid to shareholders on May 30, 2013 to all common shareholders of record as of the close of business on May 16, 2013. Additionally, the Company also announced that its Board of Directors has approved a share repurchase program under which it authorized the Company at its discretion to repurchase up to $30 million of its common shares outstanding. The Company intends to administer the share repurchase program in accordance with the conditions of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. Share repurchases may be made from time to time in the open market or in negotiated transactions depending on share price, market conditions and other factors. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of its common shares.