Shareholders Re-Elect Five Directors and Approve Long-Term Incentive Plan
DAYTONA BEACH, Fla., April 13 -- International
Speedway Corporation (Nasdaq: ISCA) (OTC Bulletin Board: ISCB) ("ISC")
today announced an increase in its annual dividend and the re-election of
five Board of Directors members.
ISC declared an annual dividend of $0.08 per share, payable on June 30,
2006, to common stockholders of record on May 31, 2006, marking the 33rd
consecutive year that the Company has paid a dividend to its shareholders.
ISC paid an annual dividend of $0.06 per share in 2005.
Separately, at the annual meeting of its shareholders, the following
members of ISC's Board of Directors were re-elected to a three-year term:
Lesa France Kennedy, 44; Larry Aiello, Jr., 56; J. Hyatt Brown, 68; Edward
H. Rensi, 61; and Thomas W. Staed, 74. In addition, ISC shareholders
approved the Company's 2006 Long-Term Incentive Plan (the "2006 Plan"). The
purpose of the 2006 Plan is (i) to provide key employees (including
officers and directors), consultants and advisors of the Company with
increased financial incentives to make significant and extraordinary
contributions to the long- term performance and growth of ISC; (ii) to join
the interests of such key employees, consultants and advisors with the
interests of the shareholders of the Company; and (iii) to facilitate
attracting and retaining key employees, consultants and advisors. The 2006
Plan replaces and is similar in all material aspects to ISC's 1996
Long-Term Incentive Plan, which included a ten- year effective term that
expires later this year.
International Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting more than 100 racing
events annually as well as numerous other motorsports-related activities.
The Company owns and/or operates 11 of the nation's major motorsports
entertainment facilities, including Daytona International Speedway in
Florida (home of the Daytona 500); Talladega Superspeedway in Alabama;
Michigan International Speedway located outside Detroit; Richmond
International Raceway in Virginia; California Speedway near Los Angeles;
Kansas Speedway in Kansas City, Kansas; Phoenix International Raceway in
Arizona; Homestead-Miami Speedway in Florida; Martinsville Speedway in
Virginia; Darlington Raceway in South Carolina; and Watkins Glen
International in New York. Other motorsports entertainment facility
ownership includes an indirect 37.5 percent interest in Raceway Associates,
LLC, which owns and operates Chicagoland Speedway and Route 66 Raceway near
Chicago, Illinois.
The Company also owns and operates MRN Radio, the nation's largest
independent sports radio network; DAYTONA USA, the "Ultimate Motorsports
Attraction" in Daytona Beach, Florida, the official attraction of NASCAR;
and subsidiaries which provide catering services, food and beverage
concessions, and produce and market motorsports-related merchandise under
the trade name "Americrown." In addition, the Company has an indirect 50
percent interest in a business called Motorsports Authentics, which markets
and distributes motorsports-related merchandise licensed by certain
competitors in NASCAR racing. For more information, visit the Company's Web
site at http://www.iscmotorsports.com .
Statements made in this release that express the Company's or
management's beliefs or expectations and which are not historical facts or
which are applied prospectively are forward-looking statements. It is
important to note that the Company's actual results could differ materially
from those contained in or implied by such forward-looking statements. The
Company's results could be impacted by risk factors, including, but not
limited to, weather surrounding racing events, government regulations,
economic conditions, consumer and corporate spending, military actions, air
travel and national or local catastrophic events. Additional information
concerning factors that could cause actual results to differ materially
from those in the forward- looking statements is contained from time to
time in the Company's SEC filings including, but not limited to, the 10-K
and subsequent 10-Qs. Copies of those filings are available from the
Company and the SEC. The Company undertakes no obligation to release
publicly any revisions to these forward-looking statements that may be
needed to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. The inclusion of any
statement in this release does not constitute an admission by International
Speedway or any other person that the events or circumstances described in
such statement are material.
SOURCE International Speedway Corporation
Web Site: http://www.iscmotorsports.com
