Dine Brands Global Inc Announces Quarterly Dividend of $0.69 (NYSE:DIN)
Dine Brands Global Inc (NYSE:DIN) announced a quarterly dividend on Monday, August 5th, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 0.69 per share by the restaurant operator on Friday, October 4th. This represents a $2.76 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, September 19th.
Dine Brands Global has decreased its dividend by an average of 6.5% annually over the last three years. Dine Brands Global has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dine Brands Global to earn $7.50 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 36.8%.
Shares of NYSE:DIN opened at $74.18 on Tuesday. The business has a 50 day moving average price of $77.22 and a 200 day moving average price of $88.54. Dine Brands Global has a twelve month low of $65.63 and a twelve month high of $104.00. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 13.81 and a beta of 0.41.
DIN has been the subject of a number of research reports. Maxim Group set a $110.00 price objective on Dine Brands Global and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank reduced their price objective on Dine Brands Global from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. ValuEngine downgraded Dine Brands Global from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James downgraded Dine Brands Global from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $125.00 to $105.00 in a research report on Thursday, August 1st. Finally, Wedbush reduced their price objective on Dine Brands Global from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Dine Brands Global currently has an average rating of “Hold” and a consensus target price of $110.00.
In other Dine Brands Global news, SVP Bryan R. Adel sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $102.63, for a total value of $821,040.00. Following the completion of the sale, the senior vice president now owns 21,505 shares in the company, valued at approximately $2,207,058.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is currently owned by company insiders.
Dine Brands Global Company Profile
Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, operates, and rents full-service restaurants in the United States and internationally. It operates in five segments: Applebee's Franchise Operations, IHOP Franchise Operations, Rental Operations, Financing Operations, and Company-Operated Restaurant Operations.
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