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Dine Brands Global, Inc.

DIN

Consumer Discretionary

1

exclusion reason

1 theme

Animal Welfare (1)
DIN Consumer Discretionary Current as of April 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Meat, Dairy & Eggs
Since Jul 28, 2021

Dine Brands Global, Inc. is the franchisor of Applebee's and IHOP, two of the largest restaurant chains in the world by number of locations. The company's primary business is the sale of meals that rely on animal products, including meat, dairy, and eggs, across its thousands of franchised and company-owned restaurants. This model creates systemic demand for industrial animal agriculture.

While the company publishes Animal Health and Welfare statements and identifies consumer concern on the topic as a material business risk in its SEC filings, its operations remain fundamentally tied to the commercial exploitation of animals. A 2025 report by Cruelty Free Investors, which cited Dine Brands, emphasized that major food companies often fail to meet international standards for farm animal welfare as benchmarked by organizations like the Business Benchmark on Farm Animal Welfare (BBFAW). The scale of the company's supply chain—serving millions of meals annually—means its animal welfare policies directly impact a vast number of animals.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.