Callaway Golf Declares Dividend of $.01

Callaway Golf Company

declared a regular quarterly cash dividend of $0.01 per share on its Common Stock. The dividend is payable on March 15, 2011 to shareholders of record at the close of business on February 18, 2011. The Company also declared a regular quarterly cash dividend of $1.875 per share on its 7.50% Series B Cumulative Perpetual Convertible Preferred Stock. The dividend is payable on March 15, 2011 to shareholders of record as of February 18, 2011.