The Wendy's Company Increases Quarterly Dividend Rate By 29 Percent
The Wendy's Company (NASDAQ: WEN) has announced a 29% increase in its quarterly cash dividend, raising it from $0.07 to $0.09 per share. This increase will take effect with the upcoming dividend payment on March 15, 2021, for shareholders on record as of March 5, 2021. Currently, there are approximately 223.9 million common shares outstanding. The CEO, Todd Penegor, expressed confidence in the company's strong liquidity and ongoing business momentum, asserting the increase will not hinder investments in growth.
- Quarterly dividend increased by 29%, from $0.07 to $0.09 per share.
- Strong liquidity positions the company well for growth investments.
- None.
DUBLIN, Ohio, Feb. 23, 2021 /PRNewswire/ -- The Wendy's Company (NASDAQ: WEN) announced today that its Board of Directors has authorized a 29 percent increase in the quarterly cash dividend rate from
"We are pleased to announce a 29 percent increase in our quarterly dividend," said President and Chief Executive Officer Todd Penegor. "Our strong liquidity position, along with the momentum we are seeing in our business, supports this increase while still allowing us to invest in accelerated growth which remains our number one priority."
About Wendy's
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, 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 6,800 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.
Investor Contact:
Greg Lemenchick
Senior Director - Investor Relations & Corporate FP&A
(614) 766-3977; greg.lemenchick@wendys.com
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 factors such as The Wendy's Company's earnings, financial condition and cash requirements and other factors.
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SOURCE The Wendy’s Company
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