DineEquity, Inc (DIN) Plans Quarterly Dividend of $0.97
DineEquity, Inc (NYSE:DIN) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Stockholders of record on Monday, September 18th will be paid a dividend of 0.97 per share by the restaurant operator on Friday, October 6th. This represents a $3.88 annualized dividend and a dividend yield of 10.00%. The ex-dividend date is Friday, September 15th.
DineEquity has increased its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. DineEquity has a payout ratio of 80.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect DineEquity to earn $5.18 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 74.9%.
Shares of DineEquity (NYSE DIN) traded up 4.08% during trading on Thursday, hitting $38.81. The stock had a trading volume of 1,136,032 shares. The company has a market cap of $697.80 million, a PE ratio of 8.16 and a beta of 0.39. The stock has a 50 day moving average of $42.25 and a 200 day moving average of $51.84. DineEquity has a 12 month low of $36.71 and a 12 month high of $88.00.
DineEquity (NYSE:DIN) last posted its earnings results on Thursday, August 10th. The restaurant operator reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. DineEquity had a return on equity of 40.48% and a net margin of 13.85%. The company had revenue of $155.20 million for the quarter, compared to the consensus estimate of $155.33 million. During the same period in the previous year, the business earned $1.59 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that DineEquity will post $4.77 EPS for the current fiscal year.
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In other DineEquity news, Director Stephen P. Joyce bought 2,265 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were purchased at an average price of $44.07 per share, with a total value of $99,818.55. Following the completion of the purchase, the director now owns 5,488 shares in the company, valued at approximately $241,856.16. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.15% of the company’s stock.
A number of equities research analysts have issued reports on the company. Vetr upgraded DineEquity from a “buy” rating to a “strong-buy” rating and set a $61.82 price objective on the stock in a research report on Wednesday, May 3rd. ValuEngine downgraded DineEquity from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Raymond James Financial, Inc. restated a “market perform” rating on shares of DineEquity in a research report on Monday, July 24th. Zacks Investment Research upgraded DineEquity from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Maxim Group decreased their price objective on DineEquity from $77.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $56.47.
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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