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Brinker International


added $150 million to its share buyback and let its shareholder rights plan lapse.

The Dallas-based operator of the Chili's restaurant chain said it won't adopt another rights plan unless shareholders approve, or unless independent directors agree it's necessary on short notice -- in which case the company will seek shareholder approval within 12 months.

Brinker declared a 10-cent quarterly dividend as well.

"The approval of the quarterly dividend and increase in share authorization reflects the Board's ongoing confidence in our company's long-term growth prospects and commitment to return value directly to shareholders," said finance chief Chuck Sonsteby. "Our strong cash flow generation and solid balance sheet will enable us to continue to invest in high-return initiatives consistent with our focused strategy, pay a quarterly dividend and repurchase shares to grow EPS 15% per year."