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Dover Downs Increases Quarterly Dividend, Authorizes Stock Buybacks24 October 2002DOVER, Delaware – (Press Release) -- Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE) Board of Directors today declared a quarterly cash dividend on both classes of common stock of $.05 per share. The dividend represents a 33% increase from the previously paid $.0375 per share. The dividend will be payable on December 10, 2002 to shareholders of record at the close of business on November 10, 2002. The Board of Directors also has authorized the repurchase of up to 2,000,000 shares of the Company's outstanding common stock. The purchases may be made in the open market or in privately negotiated transactions as conditions warrant. The repurchase authorization does not obligate the Company to acquire any specific number of shares and may be suspended at any time. Dover Downs Gaming & Entertainment, Inc. is a diversified gaming and entertainment company whose operations consist of Dover Downs Slots -- an 80,000-square foot video lottery (slots) casino complex; the Dover Downs Hotel and Conference Center -- featuring luxury accommodations with conference, banquet, fine dining, ballroom and concert hall facilities; and the Dover Downs Raceway -- a harness racing track with pari-mutuel wagering on live and simulcast horse races. |