DineEquity, Inc to Open Five New Countries

DineEquity, Inc to Open Five New Countries

DineEquity, Inc said Tuesday that it had signed four new multi-unit development agreements in the Middle East, Asia Pacific and Latin America, as part of its plan to double international locations over the next five years. The firm’s IHOP brand will expand into Thailand and India, while Applebee’s will extend its growth in the Middle East through a development agreement with Mohammed Fakhro that includes the opening of six locations…

Read More ˃
Park Hotels & Resorts to Pay Special Dividend

Park Hotels & Resorts to Pay Special Dividend

Park Hotels & Resorts, a lodging and real estate company, said Monday that its board will distribute a special dividend of $2.79 per share, payable to shareholders of record on Jan. 19. The dividend represents the company’s estimated share of earnings and profit which the company is required to distribute to its shareholders in line with its registration as a real estate investment trust. The company expects to pay the…

Read More ˃
Sears Holdings Gets Secured Loan Facility

Sears Holdings Gets Secured Loan Facility

Sears Holdings said certain of its units have entered into a $500 million committed secured loan facility maturing in July 2020. $321 million was funded under the loan facility on Wednesday and up to an additional $179 million may be drawn by the borrowers in the future. The loan facility is secured by mortgages on 46 real properties owned by the company’s subsidiaries and will be secured by additional real…

Read More ˃
Tata Motors December Sales Increase 2%

Tata Motors December Sales Increase 2%

Tata Motors American depository shares were higher more than 2% in recent pre-market trade after the car maker said December sales increased 2% to 40,944 vehicles from 39,973 vehicles sold in Dec. 2015. The company said in a regulatory filing the passenger vehicle segment grew by 35% due to continued positive response for the Tata Tiago. Exports grew by 12% on demand for commercial vehicles, the company’s bus segment saw…

Read More ˃
Westmoreland Coal Amends Roanoke Valley Power Facility Contracts

Westmoreland Coal Amends Roanoke Valley Power Facility Contracts

Westmoreland Coal Company said late Wednesday that it has amended its power supply agreement with Dominion Virginia Power, a subsidiary of Dominion (D). Under the amendment, Westmoreland will begin to provide the required contracted level of energy to Dominion through power purchase contracts, in lieu of providing it by operating Roanoke Valley Power Facility. Beginning March 1, Westmoreland will create cash savings as it will no longer be required to…

Read More ˃