Benihana Inc. has began the New Year by boosting investors’ wealth as

Benihana Inc. has began the New Year by boosting investors’ wealth as it announced the first dividend payment in the company’s history. The decision was based on the company’s growth prospects, solid balance sheet, healthy free cash flows and earnings power.

The leading operator of Japanese restaurants in the U.S will pay an initial quarterly dividend of 8 cents a share on January 30, 2012, to shareholders of record as of January 13, 2012. This equates to an annual payout of 32 cents, translating into a dividend yield of roughly 3.0% based on the closing price on January 3.

Benihana currently operates 96 restaurants, including 63 Benihana Teppanyaki restaurants, 25 RA Sushi Bar restaurants and 8 Haru sushi restaurants. Additionally, the company has 18 franchised Benihana Teppanyaki restaurants, which are operational in the U.S., Latin America and the Caribbean.

via yahoo.com