(RTTNews) - While reporting financial results for the first quarter on Wednesday, The Wendy's Co. (WEN) raised its adjusted earnings and global systemwide sales growth guidance for the full-year 2021. The company also raised its quarterly dividend 11% and increased share repurchase authorization.
For fiscal 2021, the company now projects adjusted earnings in a range of $0.72 to $0.74 per share on global systemwide sales growth of 8 to 10 percent, excluding the impact of the 53rd week.
Previously, the company expected adjusted earnings in the range of $0.67 to $0.69 per share on global systemwide sales growth of 6 to 8 percent, excluding the impact of the 53rd week.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.69 per share on revenue growth of 4.6 percent to $1.81 billion for the year. Analysts' estimates typically exclude special items.
The Company also announced a 11 percent increase in its regular quarterly cash dividend to 10 cents per share, payable on June 15, 2021, to stockholders of record as of June 1, 2021.
Further, the company announced that its Board of Directors has approved an increase to the Company's existing share repurchase authorization by $50 million to a total of $150 million after the Company exhausted its authorization due to favorable market conditions.
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