DUBLIN, Ohio, Feb. 15, 2019 /PRNewswire/ -- The Wendy's Company (NASDAQ: WEN) announced today that its Board of Directors has authorized an 18 percent increase in the quarterly cash dividend rate from 8.5 cents to 10 cents per share. The increase will be effective with the next quarterly dividend payment, which is payable on March 15, 2019, to shareholders of record as of March 1, 2019. The approximate number of common shares outstanding as of February 13, 2019 was 230.1 million.
"We are pleased to announce an 18 percent increase in our quarterly dividend," said President and Chief Executive Officer Todd Penegor. "Returning cash to shareholders remains a key priority for us. This is the seventh consecutive year that we have increased our dividend, which is a testament to the strong cash flow generation from our resilient and predictable business model."
Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, "Quality is our Recipe®," which remains the guidepost of the Wendy's system. Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads with hand-chopped lettuce, and other signature items like chili, baked potatoes and the Frosty® dessert. The Wendy's Company (NASDAQ: WEN) is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company's support of the Dave Thomas Foundation for Adoption® and its signature Wendy's Wonderful Kids® program, which seeks to find every child in the North American foster care system a loving, forever home. Today, Wendy's and its franchisees employ hundreds of thousands of people across more than 6,700 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. For details on franchising, connect with us at www.wendys.com/franchising. Visit www.wendys.com and www.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendys, and on Facebook at www.facebook.com/wendys.
*Fresh beef available in the contiguous U.S., Alaska, and Canada.
Notes: There can be no assurance that any additional regular quarterly cash dividends will be declared or paid after the date hereof, or of the amount or timing of such dividends, if any. Future dividend payments, if any, are subject to applicable law, will be made at the discretion of the Board of Directors and will be based on such factors as The Wendy's Company's earnings, financial condition and cash requirements and other factors.
SOURCE The Wendy's Company