Bloomin' Brands (BLMN) will raise its quarterly dividend by 100.0 percent to $0.20 per share in the first quarter of 2020. This follows a dividend increase of 12.5 percent by the restaurant chain last year.

The next dividend will be paid on March 13, 2020 to all stockholders of record as of the close of business on February 28, 2020. A new annual dividend rate of 80 cents per share yields 7.4% at a stock price of $10.79.

Bloomin' Brands, Inc. operates casual dining restaurants. Its four brands are Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar. The company operates restaurants in the United States, Puerto Rico, Guam and 20 countries, some of which are franchise locations.