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Saturday, Jun 3, 2023

Corporate Briefs: DineEquity, Electro Rent

DineEquity Inc. announced on Thursday that it has declared a 75 cent per share cash dividend for its fourth quarter. The company offered the same amount last quarter. The Glendale parent of the IHOP and Applebee’s Neighborhood Grill and Bar restaurant chains said the dividend will be paid on Dec. 27 for all shareholders on record at the close of business on Dec. 10. Shares lost $2.11, or about 3 percent, to close at $67.11 on the New York Stock Exchange. Electro Rent Corp. reported fiscal first quarter results on Thursday that improved but still narrowly missed analysts’ estimates. The Van Nuys lessor and seller of electronic test and measurement equipment reported net income of $5.7 million (23 cents a share) for the quarter ended Aug. 31, compared to $5.1 million (21 cents) for the same quarter a year earlier. Revenue rose 3 percent to $60.2 million. Analysts had expected earnings of 24 cents a share, according to Thomson Financial Network. Shares closed unchanged at $17.43 on the Nasdaq.

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