UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) August 14,
2003
NICHOLAS FINANCIAL, INC.
(Exact name of registrant as specified in its Charter)
British Columbia, Canada 333-08407 8736-3354
(State or Other Jurisdiction of(Commission (I.R.S. Employer
Incorporation or Organization)File Number)Identification No.)
2454 McMullen Booth Road, Building C
Clearwater, Florida 33759
(Address of Principal Executive Offices) (Zip Code)
(813) 726-0763
(Registrant's telephone number, Including area code)
Not applicable
(Former name, former address and former fiscal year, if changed
since last report)
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Item 5. Other Events
On August 11, 2003 Nicholas Financial, Inc. (the "Company")
announced a cash dividend of $.10 payable semi-annual to
shareholders of record as of September 30, 2003.
A copy of the Company's press release announcing the
foregoing actions is attached as Exhibit 99.1 to this Report on
Form 8-K and incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description of Document
99.1 Press release dated August 11, 2003 issued
by the registrant
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SIGNATURES
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, hereunto duly authorized.
NICHOLAS FINANCIAL, INC.
(Registrant)
Date: August 14, 2003 /s/ Peter L. Vosotas
-----------------------------
Peter L. Vosotas
Chairman, President,
Chief Executive Officer
(Principal Executive Officer)
Date: August 14, 2003 /s/ Ralph T. Finkenbrink
--------------------------
Ralph T. Finkenbrink
(Principal Financial Officer
and Accounting Officer)
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Exhibit Index
Exhibit No.
99.1 Press Release, dated August 14, 2003
FOR IMMEDIATE RELEASE
Nicholas Financial, Inc.
Corporate Headquarters
2454 McMullen-Booth Rd.
Building C, Suite 501
Clearwater, FL 33759
Contact: Ralph Finkenbrink
Sr.Vice President, Finance
Nasdaq: NICK
Web Site: www.nicholasfinancial.com
Nicholas Financial, Inc.
Ph # - 727-726-0763
Fax # -727-726-2140
Nicholas Financial, Inc. Announces Semi-Annual Cash Dividend
Clearwater, Florida, - August 11, 2003: Nicholas Financial, Inc.
Chairman, CEO & President, Peter L. Vosotas, today announced that
the Company has established its first semi-annual cash dividend
of $.05 cents per share. The Company declared an annual cash
dividend rate of $.10 cents a share on its common shares, which
will be paid on September 22, 2003 to shareholders of record on
September 8, 2003. Based on the Company's closing stock price on
August 8, 2003 of $6.50, a $.10 cent yearly dividend would return
a 1.54% yield on investment.
Mr. Vosotas stated, "Our Company has now reported record same
quarter increases in revenues, net income and earnings per share
in 51 out of the past 52 quarters. Given our track record and
the Board's confidence in the business going forward, we are
instituting this dividend as a means to increase shareholder
value. We believe that the issuance of a dividend, in a very
large measure, is an indication of the financial strength of the
Company. At this time, the Company plans to continue the cash
dividend program, provided that future earnings meet
expectations."
Founded in 1985, with current assets of $94,853,000 as of June
30, 2003, Nicholas Financial is one of the largest publicly
traded specialty consumer finance companies based in the
Southeast. The company has approximately 5,045,000 shares of
common stock outstanding and has reported record revenues and
earnings for the past 13 years. For an index of Nicholas
Financial Inc.'s news releases or to obtain a specific release,
visit our web site at www.nicholasfinancial.com.
Except for the historical information contained herein, the matters
discussed in this news release include forward-looking statements
that involve risks and uncertainties including competitive factors,
the management of growth, and other risks detailed from time to
time in the Company's filings and reports with the Securities and
Exchange Commission including the Company's Annual Report on Form
10-K for the year ended March 31, 2003. Such statements are based
on the beliefs of the Company's management as well as assumptions
made by and information currently available to Company management.
Actual events or results may differ materially.
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