Frisch's Restaurants, Inc. Declares Special Dividend of $9.50 per share

Frisch's Restaurants, Inc.

, announced today that the Board of Directors declared a special one-time dividend of $9.50 per share payable on September 14, 2012, to shareholders of record at the close of business on August 31, 2012. The total amount of the special dividend payment will be approximately $46.9 million based on the present number of shares outstanding and is expected to be funded from the Company's excess cash on hand. After payment of the special dividend, the Company expects to have sufficient cash and borrowing capacity to execute its strategy of growing its Big Boy concept including new stores, existing store renovations, ongoing investments in the productivity of its food production facilities and its recently announced share repurchase program. Craig F. Maier, President and Chief Executive Officer, said, "The recent sale of our Golden Corral business unit presented us with a unique opportunity to return cash to our shareholders while maintaining a strong capital structure that supports our future growth. This special dividend underscores our board of directors' commitment to deliver superior returns to our shareholders."