DineEquity Board Approves Share Repurchase

DineEquity Inc.’s board of directors approved the repurchase up to $45 million of the company’s outstanding common stock. DineEquity, based in Glendale, is the parent company of restaurant chains Applebee’s Neighborhood Grill & Bar and IHOP. “We believe that the repurchase of our common stock represents an effective use of our capital and underscores our commitment to maximize value for our shareholders,” said Julia A. Stewart, the company’s chairman and CEO. “This share repurchase program also reflects our confidence in the sustainability of our business model and its free cash flow generation.” Jessica Vernabe