Bloomin' Brands suspends dividend and withdraws guidance, stock bounces [MarketWatch]
Bloomin' Brands, Inc. (BLMN)
Last bloomin' brands, inc. earnings: 2/18 07:00 am
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Source: MarketWatch
Bloomin' Brands suspends dividend and withdraws guidance, stock bounces Bloomin' Brands Inc. BLMN, +6.50% said Friday that it was suspending its dividend, in light of the "unprecendented global market and economic conditions" resulting from the COVID-19 pandemic. Based on Thursday's stock closing price of $5.90, the annual dividend rate of 80 cents implied a dividend yield of 13.56%, compared with the implied yield for the S&P 500 SPX, +0.47% of 2.53%. The parent of Outback Steakhouse and Bonefish Grill restaurant chains said it was also withdrawing its full-year financial guidance. The company said it has drawn down "substantially all" of its credit facility, given it a cash position of over $400 million. "The increased borrowings were taken as a precautionary measure to provide additional financial flexibility," the company said in a statement. Bloomin' Brands also said it was expanding its carry-out and delivery business, and is providing limited in-restaurant dining in certa
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BLMN
Earnings
- 11/8/24 - Beat
BLMN
Sec Filings
- 12/5/24 - Form 4/A
- 12/5/24 - Form 4/A
- 12/3/24 - Form 4
- BLMN's page on the SEC website