By Connor Hart
Dine Brands Global slashed its quarterly dividend by 63%, to 19 cents a share.
The new payout, equal to 76 cents a year, represents an annual yield of about 3.1% based on Tuesday's closing price of $24.60.
The parent company of Applebee's Neighborhood Bar + Grill and IHOP said before the opening bell Wednesday that the dividend will be paid Jan. 7 to shareholders of record as of Dec. 23.
Finance Chief Vance Chang said the company believes its shares are undervalued, as it has sustained positive sales and traffic trends amid a challenging year for restaurants, mired by Americans pulling back on eating out. As a result, Dine Brands said it would adjust its shareholder return strategy including its capital allocation and dividend policy
The company also said it plans to repurchase at least $50 million of shares over the next two quarters.
Shares were trading 1.2% lower Wednesday morning, after Dine Brands said its third-quarter profit fell despite higher sales, as expenses increased.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 05, 2025 09:50 ET (14:50 GMT)
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