(Corrects 2nd bullet and first paragraph to show dividend was raised by 2 cents and not $2)
* Lesa Kennedy named CEO
* Raises annual dividend by 2 cents
April 14 (Reuters) - Race track owner International Speedway Corp (ISCA.O) said Chief Executive James France was stepping down and raised its annual dividend by 2 cents.
CEO France will step down effective June 1 and will be replaced by President Lesa Kennedy, said the company, which along with Speedway Motorsports (TRK.N) dominates the NASCAR racing landscape.
France will remain chairman of the board in a non-executive capacity.
The executive changes will not result in any increase in the company’s total annualized executive compensation expenses, France said in a statement.
The Daytona Beach, Florida-based company declared an annual dividend of 14 cents a share payable on June 30 to common stockholders of record on May 29. The company had paid an annual dividend of 12 cents a share in 2008.
The shares of the company were down 16 cents at $19.83 Tuesday afternoon on Nasdaq. They hit a low of $19.36 earlier in the session. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Himani Sarkar)