DineEquity, Inc (DIN) to Issue Quarterly Dividend of $0.97 on October 6th
DineEquity, Inc (NYSE:DIN) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Shareholders of record on Monday, September 18th will be given a dividend of 0.97 per share by the restaurant operator on Friday, October 6th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date is Friday, September 15th.
DineEquity has raised its dividend by an average of 7.0% per year over the last three years and has raised its dividend every year for the last 2 years. DineEquity has a payout ratio of 89.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect DineEquity to earn $4.45 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 87.2%.
DineEquity (NYSE DIN) opened at 38.08 on Friday. DineEquity has a 12-month low of $36.71 and a 12-month high of $88.00. The firm has a 50 day moving average of $39.97 and a 200-day moving average of $47.79. The stock has a market cap of $685.36 million, a PE ratio of 8.48 and a beta of 0.40.
DineEquity (NYSE:DIN) last issued its earnings results on Thursday, August 10th. The restaurant operator reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.10. DineEquity had a net margin of 13.02% and a return on equity of 38.34%. The business had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $155.33 million. During the same quarter in the prior year, the business posted $1.59 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts expect that DineEquity will post $4.38 earnings per share for the current year.
In other DineEquity news, Director Msd Capital L. P purchased 39,689 shares of DineEquity stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $39.23 per share, for a total transaction of $1,556,999.47. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen P. Joyce purchased 2,265 shares of DineEquity stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average price of $44.07 per share, with a total value of $99,818.55. Following the transaction, the director now owns 5,488 shares in the company, valued at $241,856.16. The disclosure for this purchase can be found here. 2.15% of the stock is owned by corporate insiders.
DIN has been the subject of several research analyst reports. Maxim Group lowered their target price on shares of DineEquity from $77.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of DineEquity from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Monday, July 24th. ValuEngine cut shares of DineEquity from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Raymond James Financial, Inc. restated a “market perform” rating on shares of DineEquity in a report on Monday, July 24th. Finally, BidaskClub upgraded shares of DineEquity from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. DineEquity presently has a consensus rating of “Hold” and a consensus price target of $56.47.
DineEquity Company Profile
DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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