Ark Restaurants Corp. (NASDAQ: ARKR) today announced cancellation of its March dividend payment. On March 13, 2020, the Company announced that, in light of the unprecedented circumstances and rapidly changing situation with respect to the coronavirus disease (COVID-19), as part of an overall plan to preserve cash flow, the Board of Directors determined that it was appropriate for the Company to defer payment of the dividend that was declared on March 2, 2020. Based on the information that was available at that time, the payment of such dividend was deferred until such time as the Board of Directors determined that payment may have been appropriate. However, in light of the events that have occurred since March 13, 2020 related to the COVID-19 pandemic, as well as the rapid development and fluidity of this situation, such dividend was canceled by the Board of Directors on July 1, 2020 and will not be paid.
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