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Outback parent company considers sale of Brazil business

February 18, 2020 - Tampa-based restaurant company Bloomin’ Brands is talking to interested parties about selling its business in Brazil, David Deno, CEO, said in a conference call Tuesday morning. Bloomin’ (Nasdaq: BLMN), the parent company of Outback Steakhouse and other brands, said last year it was evaluating strategic alternatives, including a possible sale of the company. Nothing compelling has materialized in terms of any sale of the entire company, although the review continues, Deno said. Bloomin’ reported $130.6 million in net income, or $1.45 a share, on $4.14 billion in total revenue in 2019, a news release said. For 2020 and 2021, the company expects cost savings of $40 million. It also plans to double its annual dividend from 40 cents a share to 80 cents a share.

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