Wendy’s International has bought-back 3.75m shares of its common stock for approximately US$207m in an accelerated share repurchase transaction. The common shares will be used for general corporate purposes.
Since 1998, the company has re-purchased more than 46m shares for around $1.3bn and it has a remaining $900m under a stock repurchase authorisation from its board of directors.
“This accelerated share repurchase is the latest example of the continued progress we are making with our strategic initiatives,” said chairman and chief executive officer Jack Schuessler.
“Our Board of Directors and management are united in our goal of enhancing value for our shareholders, franchisees and other stakeholders, as demonstrated by the actions we have taken in the second half of 2005. Our strategy focuses on the long-term success of the Company, our brands and our relationships with franchisees.”