Bloomin' Brands To Start Paying Dividend, Sets $100 Million Stock Buyback Program

Bloomin' Brands is using its first analyst and investor day on Tuesday to announce it will start paying a dividend to shareholders, starting with an expected 6 cents a share in the first quarter. The casual dining restaurant chain, with brands that include Outback Steakhouse and Bonefish Grill, also announced a $100 million stock repurchase program. The company also said it expects 2015 adjusted earnings-per-share growth of at least 15% and same-store sales growth for company-owned stores of at least 1.5%. Analysts surveyed by FactSet expect, on average, 2015 earnings-per-share growth of 15.5% and same-store sales of 1.6%. The stock fell 3.2% in light premarket trade. Through Monday, it had lost 5% this year, compared with a 7.6% rise in the S&P 500.