DineEquity sees FY13 consolidated free cash flow $77M-$93M Guidance also includes: Applebee’s domestic system-wide same-restaurant sales performance to range between negative 1.5% and positive 1.5%. IHOP’s domestic system-wide same-restaurant sales performance to range between negative 1.5% and positive 1.5%. Applebee’s franchisees to develop between 40 and 50 new restaurants, the majority of which are expected to be opened in the U.S. IHOP franchisees and its area licensee to develop between 50 and 60 new restaurants, the majority of which are expected to be domestic openings. Consolidated capital expenditures are expected to decline to between $8 million and $10 million mainly due to significantly fewer company-operated restaurants. The Federal income tax rate is expected to be approximately 38%. The structural run-off of the Company’s long-term receivables is expected to be approximately $14M.
DineEquity board approves increase in share repurchase authorization to $150M The board approved an increase in the share repurchase authorization for the Company's common stock, effective immediately, to $150M from the remaining previous authorization of approximately $63M. The company anticipates using the majority of its remaining free cash flow after dividend payments for share repurchases.