DineEquity board approves $100M share repurchase program

theflyonthewall.com

DineEquity announced a capital allocation strategy that includes the approval by its Board of Directors of Q1 cash dividend of 75c per share of common stock. DineEquity’s Board of Directors today declared the dividend, payable on March 29 to the company’s shareholders of record as of the close of business on March 15. The Board of Directors also approved a $100M share repurchase authorization, effective immediately, which replaces the $45M share repurchase authorization previously announced by the company in August 2011. The company remains subject to certain mandatory debt reduction requirements related to capital leases and the annual amortization payment of $4.7M associated with the recently announced re-pricing of its senior secured credit facility.

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