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News Breaks
December 20, 2012
09:39 EDTDINMarcato Capital sends letter to DineEquity CEO with suggestions
Marcato, owner of 5.5% of DineEquity's outstanding shares, disclosed that it sent a letter and discussion materials to Julia Stewart, CEO of the company. The letter stated in part, "As we discussed with you during our meeting, we believe that the Company is at a very important moment in its strategic life. The refranchising campaign associated with the Company’s 2007 acquisition of Applebee’s, and the related debt reduction effort, is now complete." Marcato recommends DineEquity maintain a target leverage ratio of 5.0x Net Debt / EBITDA, return free cash flow to shareholders, and refinance existing borrowings to provide maximum capital flexibility.
News For DIN From The Last 14 Days
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October 28, 2014
08:05 EDTDINDineEquity raises FY14 free cash flow view to $109M-$119M from $86M-$104M
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08:04 EDTDINDineEquity reports Q3 adjusted EPS $1.14, consensus $1.07
Reports Q3 revenue $162.9M, consensus $158.71M. Q3 domestic system-wide same restaurant sales increased 2.4% and 1.7% at IHOP and Applebee’s, respectively.
08:02 EDTDINDineEquity raises quarterly dividend 17%, increases repurchase authorization
DineEquity announced approval by its Board of Directors of a meaningful 17% increase in the company’s quarterly cash dividend to 87.5c per share of common stock. The fourth quarter 2014 dividend will be payable on January 9, 2015 to the Company’s stockholders of record at the close of business on December 3, 2014. The Board of Directors also approved an increase in the share repurchase authorization for the Company’s common stock, effective immediately, to $100 million from the remaining previous authorization of approximately $40 million. The Company anticipates using the majority of its remaining free cash flow after dividend payments for share repurchases.
October 27, 2014
10:00 EDTDINOn The Fly: Analyst Upgrade Summary
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06:29 EDTDINDineEquity upgraded to Buy from Neutral at Longbow
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