IHOP 2014 Annual Report Download - page 106

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DineEquity, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements (Continued)
11. Stockholders' Equity (Continued)
87
Dividends
During the fiscal years ended December 31, 2014 and 2013, the Company declared and paid dividends on our common stock
as follows:
Year ended December 31, 2014 Declaration date Payment date Dividend per
share Total(1)
(In millions)
First quarter......................................................... February 25, 2014 March 28, 2014 $ 0.75 $ 14.3
Second quarter .................................................... May 28, 2014 June 27, 2014 0.75 14.3
Third quarter ....................................................... August 4, 2014 September 26, 2014 0.75 14.2
Fourth quarter ..................................................... October 27, 2014 (2) 0.875 —
Total.................................................................... $ 3.125 $ 42.8
Year ended December 31, 2013
First quarter......................................................... February 26, 2013 March 29, 2013 $ 0.75 $ 14.6
Second quarter .................................................... May 14, 2013 June 28, 2013 0.75 14.4
Third quarter ....................................................... August 2, 2013 September 27, 2013 0.75 14.3
Fourth quarter ..................................................... October 3, 2013 December 27, 2013 0.75 14.3
Total.................................................................... $ 3.00 $ 57.6
___________________________________________________
(1) Includes dividend equivalents paid on restricted stock units
(2) The fourth quarter 2014 dividend of $16.6 million was paid on January 9, 2015.
On February 24, 2015, the Company's Board of Directors approved payment of a cash dividend of $0.875 per share of
common stock, payable at the close of business on April 10, 2015 to the stockholders of record as of the close of business on
March 13, 2015.
There were no dividends declared or paid on common shares in 2012.
12. Closure and Impairment Charges
Closure and impairment charges for the years ended December 31, 2014, 2013 and 2012 were as follows:
Year Ended December 31,
2014 2013 2012
(In millions)
Closure charges $ 2.1 $ 1.0 $ 2.3
Long-lived tangible asset impairment 1.6 0.8 1.9
Total closure and impairment charges $ 3.7 $ 1.8 $ 4.2
Closure Charges
Approximately $1.0 million of the closure charges for the year ended December 31, 2014 related to IHOP restaurants
closed during 2014 with the remainder primarily related to adjustments to the estimated reserve for IHOP and Applebee's
restaurants closed prior to 2014. Closure charges for the year ended December 31, 2013 primarily related to adjustments to the
estimated reserve for closed surplus IHOP and Applebee's restaurants. Closure charges for the year ended December 31, 2012
primarily related to the closure of one IHOP restaurant that was taken back from the franchisee operator and to adjustments to
the estimated reserve for previously closed surplus IHOP properties.
Long-lived Tangible Asset Impairment
Long-lived tangible asset impairment charges for the year ended December 31, 2014 related primarily to two IHOP
company-operated restaurants in the Cincinnati, Ohio area. The Company evaluated the causal factors of all impairments of
long-lived assets as they were recorded during 2014 and concluded they were based on factors specific to each asset and not
potential indicators of an impairment of other long-lived assets.