Churchill Downs is among the growing number of publicly traded companies that have accelerated payment of dividends to get ahead of probable increased tax rates next year.
Churchill Downs Incorporated reported Tuesday that it had record revenues and earnings for the year ended December 31, 2000. Net revenues for the year totaled $362.0 million, a 40 percent increase over $258.4 million in 1999. Net earnings were $19.2 million, a 28 percent increase over $15.0 million last year. Earnings per share for the year were $1.75, compared with $1.72 in 1999.
Youbet.com Inc., the online live event and horse racing wagering company, announced Friday that it received notification from The Nasdaq Stock Market that it is not in compliance with the National Market's listing maintenance standard regarding minimum bid prices. This standard requires that the company's common stock maintain a minimum bid price of at least $1.00 per share. In order to comply with this standard, the company's common stock must have a minimum bid price of at least $1.00 for 10 consecutive trading days prior to May 21, 2001.
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