The best-performing locations in the chain were its five Del Frisco's Double Eagle Steak House units, which rose 7.8%. They were followed by the 20 Texas Land & Cattle Steak Houses, up 3%, and the 2.7% lift at the 15 Sullivan's Steakhouses.
In its mid-quarter update, which was reported on Dec. 14, Lone Star had opened one new restaurant in the previous 12 weeks. It closed two permanently due to hurricane damage and experienced 264 lost store days due to Hurricane Wilma and 262 lost store days from Hurricane Katrina.
During that period, sales decreased by 1%, or $1,400. Year-over-year same-store sales were down 4.5% during that period.
Lone Star executives are increasing their cash dividend from 19.5 cents per share to 20.5 cents per share. It will increase from 78 cents to 82 cents on an annualized basis.
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