CONCORD, N.C.--(BUSINESS WIRE)--Oct. 1, 2003--Speedway
Motorsports, Inc. (NYSE:TRK) today declared a cash dividend of $0.305
per share of common stock.
The annual dividend will be payable on Nov. 14, 2003 to
shareholders of record as of Oct. 31, 2003. This is the second
consecutive year that Speedway Motorsports has paid a cash dividend to
its stockholders. The dividend represents an increase over the prior
year. The Board of Directors of the motorsports entertainment company
unanimously decided to declare the dividend after reviewing the market
for the Company's stock, current business conditions and future
prospects of the Company.
The Company also announced that it had completed the exchange of
all of the outstanding unregistered 6 3/4% Senior Subordinated Notes
due 2013, that were issued in a private transaction on May 16, 2003,
for new registered 6 3/4% Senior Subordinated Notes due 2013.
Speedway Motorsports is a leading marketer and promoter of
motorsports entertainment in the United States. The Company owns and
operates the following premiere facilities: Atlanta Motor Speedway,
Bristol Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway,
Lowe's Motor Speedway and Texas Motor Speedway. The Company provides
souvenir merchandise services through its SMI Properties subsidiary
and manufactures and distributes smaller-scale, modified race cars
through its 600 Racing subsidiary. The Company also owns Performance
Racing Network which broadcasts syndicated motorsports programming to
more than 725 radio stations nationwide. For more information visit
the Company's Website at www.gospeedway.com.
CONTACT: Speedway Motorsports, Inc.
Lauri Wilks, 704-455-3239
SOURCE: Speedway Motorsports, Inc.