Brief: Ruth's Hospitality Suspending All New Restaurant Construction And Non-Essential Capex

Ruth's Hospitality

30/03/2020 11:04

March 30 (Reuters) - Ruth's Hospitality Group Inc  RUTH.O :
    * RUTH’S HOSPITALITY GROUP, INC. PROVIDES UPDATE ON ACTIONS
TAKEN
IN RESPONSE TO COVID-19
    * RUTH'S HOSPITALITY GROUP INC -  ON MARCH 26 EXERCISED
$30.0
MILLION ACCORDION FEATURE IN EXISTING FACILITY
    * RUTH'S HOSPITALITY GROUP INC - DREW DOWN $30.0 MILLION
ACCORDION
FEATURE IN EXISTING FACILITY
    * RUTH'S HOSPITALITY GROUP INC - SUSPENDING ALL NEW
RESTAURANT
CONSTRUCTION AND NON-ESSENTIAL CAPITAL EXPENDITURES
    * RUTH'S HOSPITALITY GROUP INC - HAS ALSO SUSPENDED ITS
QUARTERLY
DIVIDEND
    * RUTH'S HOSPITALITY GROUP - CHERYL HENRY AND OTHER MEMBERS
OF
EXECUTIVE TEAM HAVE ELECTED TO REDUCE THEIR 2020 BASE SALARIES
EFFECTIVE MARCH 30, 2020
    * RUTH'S HOSPITALITY GROUP - NON-EMPLOYEE DIRECTORS OF CO
HAVE
ALSO ELECTED TO SUSPEND PAYMENT OF THEIR ANNUAL CASH RETAINER
FEES FOR SERVICE ON BOARD
    * RUTH'S HOSPITALITY GROUP INC - HAS WITHDRAWN ITS FINANCIAL
GUIDANCE FOR FISCAL YEAR 2020

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