Wendy’s CEO says ‘we continued to deliver compelling sales and profit growth’

"Our 2022 results highlight the strength and resiliency of the Wendy’s brand as we continued to deliver compelling sales and profit growth," President and CEO Todd Penegor said. "During the year, global same-restaurant sales reached double digits on a two-year basis for the second consecutive year, Company restaurant margins expanded by almost 300 basis points in the fourth quarter versus the first quarter, and we opened over 275 restaurants across the globe. Supported by our business momentum and strong liquidity position, I am pleased to announce that our Board of Directors has approved a 100% increase in our quarterly dividend to $0.25 per share and a new $500 million share repurchase authorization. These actions are in alignment with our capital allocation policy while providing significant flexibility to continue to invest in growth." Nelson Peltz, CEO and a Founding Partner of Trian Fund Management, L.P., Wendy’s largest shareholder, and Wendy’s Non-Executive Chairman, said, "Trian believes strongly in the future of Wendy’s, is confident in the company’s growth plans and is strongly supportive of the capital allocation strategy announced today." Peltz continued, "Trian believes that the company is well-positioned to deliver significant long-term value for shareholders and looks forward to continuing to work with the Board and leadership team to do so."