DALLAS (AP) -- Brinker International Inc. said Thursday its board authorized a dividend increase and expanded its share repurchase plan.
Brinker, the parent of restaurants including Chili's Grill & Bar and Maggiano's Little Italy, said it will pay a dividend of 20 cents on Sept. 27 to shareholders of record Sept. 10. The new payout represents a 25 percent increase over the prior rate.
The company also is expanding its buybacks by $500 million, bringing the total outstanding authorization to $626 million.
Shares of Brinker closed down 24 cents at $33.85. Over the past year, the stock has traded between $19.50 and $35.18.