What happened

Shares of Dine Brands (NYSE:DIN) have jumped today, up by 12% as of 11:30 a.m. EST, after the company reported fourth-quarter earnings results. The Applebee's and IHOP parent beat expectations and increased its dividend payout.

So what

Total revenue rose to $214.2 million, well above the consensus estimate of $197.3 million in sales. That all translated into non-GAAP net income of $30.3 million, or $1.70 per share, similarly topping the market's expectations of $1.57 per share in adjusted profit. Both restaurant chains posted gains in same-restaurant sales, with Applebee's comps rising 3.5% and IHOP's comps increasing 3%. Consolidated adjusted EBITDA rose to $65 million.

Four pancakes with a pat of butter on top, sharing a plate with some pieces of bacon

Image source: Getty Images.

"Dine Brand's strong performance in the fourth quarter and throughout 2018 is the result of a clear strategic vision and unwavering commitment to sustainable growth," CEO Steve Joyce said in a statement. "Both Applebee's and IHOP have outperformed their respective categories by delivering on comprehensive efforts to drive their businesses and delight guests."

Check out the latest Dine Brands earnings call transcript.

Now what

Dine Brands also boosted its quarterly dividend by 10% to $0.69 per share, which will be payable on April 5 to shareholders of record as of March 20. The company's board also authorized a new $200 million share repurchase authorization to replace the existing buyback program.

In terms of outlook, Dine Brands expects both Applebee's and IHOP to increase comparable same-restaurant sales by 2% to 4% in 2019. The company expects 20 to 30 net closures of Applebee's franchises during the year, while IHOP franchisees and area licensees are expected to add 35 to 55 new restaurants globally. Consolidated adjusted EBITDA for 2019 is expected in the range of $268 million to $277 million, with adjusted earnings per share of $6.90 to $7.20. Analysts are currently modeling for $6.93 per share in adjusted profits this year.