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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 10, 1997
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FRISCH'S RESTAURANTS, INC.
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(Exact name of registrant as specified in its charter)
OHIO
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(State or other jurisdiction of incorporation or organization)
1-7323 31-0523213
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(Commission File Number) (I.R.S. Employer Identification No.)
2800 GILBERT AVENUE, CINCINNATI, OHIO 45206
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 513-961-2660
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Item 5. Other Events.
See attached press release.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FRISCH'S RESTAURANTS, INC.
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(registrant)
DATE June 17, 1997
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June 17, 1997
BY /s/ DONALD H. WALKER
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Donald H. Walker
Vice President - Finance and
Principal Financial Officer
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Summary: Frisch's Restaurants, Inc (ASE)
declares regular $.06 per share
quarterly dividend and announces
it will close fifteen
underperforming restaurants
Company Contact:
Craig F. Maier
President and CEO
(513) 559-5118
FOR IMMEDIATE RELEASE
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Cincinnati, Ohio. June 10, 1997..................
The Board of Directors of Frisch's Restaurants, Inc. (American Stock
Exchange, Inc.) has declared a $.06 per share quarterly dividend payable July
10, 1997 to shareholders of record at the close of business on June 27, 1997.
This will be the 146th consecutive quarterly dividend paid by Frisch's.
The Company also announced today it is closing fifteen underperforming
restaurants. Ten of the restaurants are located in Indianapolis, four are
located in central Ohio and one is in Louisville, Ky.
Craig F. Maier, President and CEO, said that despite all efforts to
improve the profitability of the fifteen locations, it is in the best interest
of the Company and its shareholders to close these restaurants. All employees
in the affected locations will be offered employment in other Company
restaurants.
The fifteen restaurants sustained pretax losses of approximately
$2,200,000 in the fiscal year which just ended June 1, 1997. The Company
expects to take a $4,000,000 to $4,500,000 one time pretax impairment of assets
charge against its earnings for fiscal 1997. The Company will report its
earnings for the fiscal year in about one month.
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