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Item 8.01 Other Events.
On May 11, 2023, the Corporation issued a press release announcing that the Board of Directors of the Corporation declared a second quarter 2023 cash dividend of $0.51 per share of common stock, payable on July 7, 2023, to the Corporation’s stockholders of record as of the close of business on June 20, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
|99.1||Press Release issued by the Corporation on May 11, 2023.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document).|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 11, 2023
DINE BRANDS GLOBAL, INC.
/s/ Vance Y. Chang
|Vance Y. Chang|
|Chief Financial Officer|
Vice President, Investor Relations
Dine Brands Global, Inc.
Sr. Vice President, Global Communications
Dine Brands Global, Inc.
Dine Brands Global, Inc. Announces Second Quarter 2023 Dividend
Pasadena, Calif., May 11, 2023 Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebees Neighborhood Grill + Bar®, IHOP® and Fuzzys Taco Shop® restaurants, today announced that its Board of Directors declared a quarterly cash dividend of $0.51 per share of common stock. The dividend will be payable on July 7, 2023, to the Companys stockholders of record at the close of business on June 20, 2023.
About Dine Brands Global, Inc.
Based in Pasadena, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries and franchisees, supports and operates restaurants under the Applebees Neighborhood Grill + Bar®, IHOP®, and Fuzzys Taco Shop® brands. As of March 31, 2023, these three brands consisted of 3,600 restaurants, across 17 international markets. Dine Brands is one of the largest full-service restaurant companies in the world and in 2022 expanded into the Fast Casual segment. For more information on Dine Brands, visit the Companys website located at www.dinebrands.com.
Statements contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by words such as may, will, would, should, could, expect, anticipate, believe, estimate, intend, plan, goal and other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. These factors include, but are not limited to: uncertainty regarding the duration and severity of the ongoing COVID-19 pandemic and its ultimate impact on the Company; the effectiveness of related containment measures; general economic conditions, including the impact of inflation; our level of indebtedness; compliance with the terms of our securitized debt; our ability to refinance our current indebtedness or obtain additional financing; our dependence on information technology; potential cyber incidents; the implementation of restaurant development plans; our dependence on our franchisees; the concentration of our Applebees franchised restaurants in a limited number of franchisees; the financial health of our franchisees; our franchisees and other licensees compliance with our quality standards and trademark usage; general risks associated with the restaurant industry; potential harm to our brands reputation; possible future impairment charges; the effects of tax reform; trading volatility and fluctuations in the price of our stock; our ability to achieve the financial guidance we provide to investors; successful implementation of our business strategy; the availability of suitable locations for new restaurants; shortages or interruptions in the supply or delivery of products from third parties or availability of utilities; the management and forecasting of appropriate inventory levels; development and implementation of innovative marketing and use of social media; changing health or dietary preference of consumers; risks associated with doing business in international markets; the results of litigation and other legal proceedings; third-party claims with respect to intellectual property assets; our ability to attract and retain management and other key employees; compliance with federal, state and local governmental regulations; risks associated with our self-insurance; natural disasters, pandemics, epidemics, or other serious incidents; our success with development initiatives outside of our core business; the adequacy of our internal controls over financial reporting and future changes in accounting standards; and other factors discussed from time to time in the Corporations Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Corporations other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date hereof to reflect actual results or future events or circumstances.