Bloomin' Brands, Inc. Announces Quarterly Dividend of $0.15 (NASDAQ:BLMN)

Key Points

• Bloomin' Brands, Inc. announced a quarterly dividend of $0.15 per share, with a dividend yield of 8.9%, set to be paid on September 3rd to stockholders of record by August 19th.
• The company's dividend payout ratio is 47.6%, indicating that its dividends are well-covered by earnings, with expectations of a $1.76 earnings per share next year.
• Bloomin' Brands stock rose by 8.7% in a single trading day, reaching $6.75, with trading volume significantly higher than its average.

Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Shareholders of record on Tuesday, August 19th will be paid a dividend of 0.15 per share by the restaurant operator on Wednesday, September 3rd. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Tuesday, August 19th.

Bloomin' Brands has a dividend payout ratio of 47.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Bloomin' Brands to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.1%.

Bloomin' Brands Stock Performance

NASDAQ BLMN traded down $0.16 during trading on Monday, hitting $6.47. The company's stock had a trading volume of 3,873,566 shares, compared to its average volume of 2,702,988. The firm has a market cap of $550.40 million, a P/E ratio of -129.40 and a beta of 1.32. The company has a quick ratio of 0.35, a current ratio of 0.43 and a debt-to-equity ratio of 2.29. Bloomin' Brands has a 52 week low of $6.09 and a 52 week high of $18.72. The firm has a 50 day moving average price of $8.97 and a 200 day moving average price of $8.97.

Bloomin' Brands (NASDAQ:BLMN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $974.69 million. Bloomin' Brands had a positive return on equity of 44.03% and a negative net margin of 0.12%. Bloomin' Brands's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. Equities research analysts forecast that Bloomin' Brands will post 1.8 earnings per share for the current fiscal year.

About Bloomin' Brands

Bloomin' Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.