VERB (2)

1. have supper; eat dinner;
- Example: "We often dine with friends in this restaurant"

2. give dinner to; host for dinner;
- Example: "I'm wining and dining my friends"

The Collaborative International Dictionary of English v.0.48:

Dine \Dine\, v. i. [imp. & p. p. Dined; p. pr. & vb. n.
   Dining.] [F. d[^i]ner, OF. disner, LL. disnare, contr. fr.
   an assumed disjunare; dis- + an assumed junare (OF. juner) to
   fast, for L. jejunare, fr. jejunus fasting. See Jejune, and
   cf. Dinner, D?jeuner.]
   To eat the principal regular meal of the day; to take dinner.
   [1913 Webster]

         Now can I break my fast, dine, sup, and sleep. --Shak.
   [1913 Webster]

   To dine with Duke Humphrey, to go without dinner; -- a
      phrase common in Elizabethan literature, said to be from
      the practice of the poor gentry, who beguiled the dinner
      hour by a promenade near the tomb of Humphrey, Duke of
      Gloucester, in Old Saint Paul's.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Dine \Dine\, v. t.
   1. To give a dinner to; to furnish with the chief meal; to
      feed; as, to dine a hundred men.
      [1913 Webster]

            A table massive enough to have dined Johnnie
            Armstrong and his merry men.          --Sir W.
                                                  Scott.
      [1913 Webster]

   2. To dine upon; to have to eat. [Obs.] "What will ye dine."
      --Chaucer.
      [1913 Webster]

WordNet (r) 3.0 (2006):

dine
    v 1: have supper; eat dinner; "We often dine with friends in
         this restaurant"
    2: give dinner to; host for dinner; "I'm wining and dining my
       friends"