GLENDALE, Calif., Oct. 2, 2015 /PRNewswire/ -- DineEquity,
Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood
Grill & Bar® and IHOP® restaurants, today
announced approval by its Board of Directors of a 5% increase in
the Company's quarterly cash dividend to $0.92 per share of common stock. The dividend
will be payable on January 8, 2016 to
the Company's stockholders of record at the close of business on
December 11, 2015.
The Board of Directors also approved an increase in the share
repurchase authorization for the Company's common stock, effective
immediately, to $150 million from the
remaining previous authorization of approximately $63 million. The Company anticipates using the
majority of its remaining free cash flow after dividend payments
for share repurchases.
"The decision to raise the quarterly dividend and increase the
share repurchase authorization reflects the confidence we have in
our business model and long-term strategy. We believe that today's
announcement reaffirms our commitment to return a significant
portion of our strong and stable free cash flow to stockholders,"
said Julia A. Stewart, Chairman and
Chief Executive Officer of DineEquity, Inc.
About DineEquity, Inc.
Based in Glendale, California,
DineEquity, Inc., through its subsidiaries, franchises and operates
restaurants under the Applebee's Neighborhood Grill & Bar and
IHOP brands. With more than 3,600 restaurants combined in 20
countries and U.S. territories and over 400 franchisees, DineEquity
is one of the largest full-service restaurant companies in the
world. For more information on DineEquity, visit the Company's Web
site located at www.dineequity.com.
Forward-Looking Statements
Statements contained in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
forward-looking statements by words such as "may," "will,"
"should," "expect," "anticipate," "believe," "estimate," "intend,"
"plan" and other similar expressions. These statements involve
known and unknown risks, uncertainties and other factors, which may
cause actual results to be materially different from those
expressed or implied in such statements. These factors include, but
are not limited to: the effect of general economic conditions; the
Company's indebtedness; risk of future impairment charges; trading
volatility and the price of the Company's common stock; the
Company's results in any given period differing from guidance
provided to the public; the highly competitive nature of the
restaurant business; the Company's business strategy failing to
achieve anticipated results; risks associated with the restaurant
industry; risks associated with locations of current and future
restaurants; rising costs for food commodities and utilities;
shortages or interruptions in the supply or delivery of food;
ineffective marketing and guest relationship initiatives and use of
social media; changing health or dietary preferences; our
engagement in business in foreign markets; harm to our brands'
reputation; litigation; fourth-party claims with respect to
intellectual property assets; environmental liability; liability
relating to employees; failure to comply with applicable laws and
regulations; failure to effectively implement restaurant
development plans; our dependence upon our franchisees;
concentration of Applebee's franchised restaurants in a limited
number of franchisees; credit risk from IHOP franchisees operating
under our previous business model; termination or non-renewal of
franchise agreements; franchisees breaching their franchise
agreements; insolvency proceedings involving franchisees; changes
in the number and quality of franchisees; inability of franchisees
to fund capital expenditures; heavy dependence on information
technology; the occurrence of cyber incidents or a deficiency in
our cybersecurity; failure to execute on a business continuity
plan; inability to attract and retain talented employees; risks
associated with retail brand initiatives; failure of our internal
controls; and other factors discussed from time to time in the
Company's Annual and Quarterly Reports on Forms 10-K and 10-Q and
in the Company's other filings with the Securities and Exchange
Commission. The forward-looking statements contained in this
release are made as of the date hereof and the Company assumes no
obligation to update or supplement any forward-looking
statements.
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SOURCE DineEquity, Inc.