IHOP 2015 Annual Report Download - page 44

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Item 3. Legal Proceedings.
We are subject to various lawsuits, administrative proceedings, audits, and claims arising in the ordinary course of
business. Some of these lawsuits purport to be class actions and/or seek substantial damages. We are required to record an
accrual for litigation loss contingencies that are both probable and reasonably estimable. Legal fees and expenses associated
with the defense of all of our litigation are expensed as such fees and expenses are incurred. Management regularly assesses our
insurance deductibles, analyzes litigation information with our attorneys and evaluates our loss experience in connection with
pending legal proceedings. While we do not presently believe that any of the legal proceedings to which we are currently a
party will ultimately have a material adverse impact on us, there can be no assurance that we will prevail in all the proceedings
we are party to, or that we will not incur material losses from them.
Item 4. Mine Safety Disclosure.
Not Applicable.
PART II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Market Information
Our common stock is traded on the NYSE under the symbol “DIN”. The following table sets forth the high and low sales
prices of our common stock on the NYSE for each fiscal quarter of 2015 and 2014.
Fiscal Year 2015 Fiscal Year 2014
Prices Prices
Quarter High Low High Low
First...................................................................................... $ 114.23 $ 100.16 $ 85.73 $ 74.21
Second ................................................................................. $ 107.55 $ 93.98 $ 82.75 $ 74.07
Third .................................................................................... $ 106.09 $ 91.32 $ 84.99 $ 74.93
Fourth .................................................................................. $ 93.22 $ 80.56 $ 103.26 $ 77.08
Holders
The number of stockholders of record and beneficial owners of our common stock as of February 10, 2016 was estimated
to be 10,800.
Dividends on Common Stock
During the fiscal years ended December 31, 2015 and 2014 we declared and paid dividends as follows:
Year ended December 31, 2015 Declaration date Payment date
Dividends
declared per
share
Dividends
paid per
share
Total
dividends
paid(1)
(In millions)
Payment of prior year declaration........ (2) January 9, 2015 — $ 0.875 $ 16.6
First quarter.......................................... February 24, 2015 April 10, 2015 $ 0.875 0.875 16.7
Second quarter ..................................... May 19, 2015 July 10, 2015 0.875 0.875 16.5
Third quarter ........................................ July 30, 2015 October 9, 2015 0.875 0.875 16.4
Fourth quarter....................................... October 1, 2015 (3) 0.92 — —
Total..................................................... $ 3.545 $ 3.50 $ 66.2
Year ended December 31, 2014
First quarter.......................................... February 25, 2014 March 28, 2014 $ 0.75 $ 0.75 $ 14.3
Second quarter ..................................... May 28, 2014 June 27, 2014 0.75 0.75 14.3
Third quarter ........................................ August 4, 2014 September 26, 2014 0.75 0.75 14.2
Fourth quarter....................................... October 27, 2014 (2) 0.875 — —
Total..................................................... $ 3.125 $ 2.25 $ 42.8
(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
(3) The fourth quarter 2015 dividend of $17.1 million was paid on January 8, 2016.