Dine Brands Global, Inc. (NYSE:DIN – Get Free Report) declared a quarterly dividend on Friday, September 4th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.19 per share by the restaurant operator on Friday, October 9th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th.
Dine Brands Global has raised its dividend payment by an average of 0.2%annually over the last three years. Dine Brands Global has a payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dine Brands Global to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 16.3%.
Dine Brands Global Price Performance
DIN traded down $0.52 during trading on Friday, hitting $31.65. The stock had a trading volume of 216,115 shares, compared to its average volume of 372,948. The company has a 50 day moving average price of $35.13 and a 200-day moving average price of $31.58. Dine Brands Global has a one year low of $22.85 and a one year high of $39.68. The firm has a market cap of $400.69 million, a price-to-earnings ratio of 67.34 and a beta of 0.94.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in DIN. Corient Private Wealth LP boosted its stake in shares of Dine Brands Global by 64.9% in the 2nd quarter. Corient Private Wealth LP now owns 55,953 shares of the restaurant operator’s stock valued at $2,009,000 after purchasing an additional 22,013 shares in the last quarter. California State Teachers Retirement System increased its position in Dine Brands Global by 702.5% during the 2nd quarter. California State Teachers Retirement System now owns 6,211 shares of the restaurant operator’s stock worth $223,000 after purchasing an additional 5,437 shares in the last quarter. AXQ Capital LP bought a new position in Dine Brands Global in the 2nd quarter valued at approximately $301,000. Empowered Funds LLC acquired a new stake in Dine Brands Global in the second quarter valued at approximately $208,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Dine Brands Global in the second quarter valued at approximately $35,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.
About Dine Brands Global
Dine Brands Global, Inc is a leading franchisor and operator of full‐service restaurants in the casual dining and breakfast segments. The company’s primary brands include IHOP®, known for its wide variety of breakfast offerings and pancakes, and Applebee’s Neighborhood Grill + Bar®, a casual dining concept featuring a range of American entrées, appetizers and cocktails. Through its franchise model, Dine Brands works with independent restaurant owners to develop, market and support both domestic and international locations.
The origins of Dine Brands Global date back to the founding of the International House of Pancakes (IHOP) in 1958 in California.
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