Dine Brands Global, Inc. (NYSE:DIN – Get Rating) announced a quarterly dividend on Friday, May 13th, Wall Street Journal reports. Shareholders of record on Monday, June 20th will be paid a dividend of 0.51 per share by the restaurant operator on Friday, July 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, June 16th. This is an increase from Dine Brands Global’s previous quarterly dividend of $0.46.
Dine Brands Global has decreased its dividend by an average of 45.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Dine Brands Global has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dine Brands Global to earn $6.93 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 26.6%.
Shares of DIN opened at $75.57 on Friday. Dine Brands Global has a 1-year low of $61.38 and a 1-year high of $99.90. The stock has a market cap of $1.27 billion, a PE ratio of 13.47 and a beta of 1.89. The firm has a 50-day simple moving average of $73.99 and a two-hundred day simple moving average of $76.17.
DIN has been the subject of a number of research reports. Raymond James dropped their price objective on shares of Dine Brands Global from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Wedbush reiterated a “buy” rating and issued a $105.00 price target on shares of Dine Brands Global in a research note on Friday, February 25th. Zacks Investment Research downgraded shares of Dine Brands Global from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. StockNews.com downgraded shares of Dine Brands Global from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Barclays decreased their price target on shares of Dine Brands Global from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $96.11.
In other news, Director Larry Alan Kay sold 1,950 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $72.47, for a total transaction of $141,316.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.38% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in DIN. Envestnet Asset Management Inc. raised its position in Dine Brands Global by 12.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,753 shares of the restaurant operator’s stock valued at $293,000 after purchasing an additional 404 shares during the last quarter. Royal Bank of Canada raised its position in Dine Brands Global by 14.8% in the 3rd quarter. Royal Bank of Canada now owns 3,664 shares of the restaurant operator’s stock valued at $298,000 after purchasing an additional 471 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Dine Brands Global in the 4th quarter valued at $314,000. Virtu Financial LLC purchased a new stake in Dine Brands Global in the 4th quarter valued at $400,000. Finally, Bank of Montreal Can raised its position in Dine Brands Global by 3.8% in the 1st quarter. Bank of Montreal Can now owns 5,659 shares of the restaurant operator’s stock valued at $440,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.
About Dine Brands Global (Get Rating)
Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, operates, and rents full-service restaurants in the United States and internationally. It operates through five segments: Applebee's Franchise Operations, International House of Pancakes (IHOP) Franchise Operations, Rental Operations, Financing Operations, and Company-Operated Restaurant Operations.
- Get a free copy of the StockNews.com research report on Dine Brands Global (DIN)
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