Wendy's raises dividend by 4%

Wendy’s Co. WEN, -1.65% said late Wednesday its board of directors has authorized an increase of about 4% in the company’s quarterly dividend to 12.5 cents from 12 cents. The increase is effective with the next quarterly dividend payment on March 15 to shareholders of record as of March 7. “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,” Chief Executive Officer Todd Penegor said in a statement. Shares of Wendy’s were flat in the extended session Wednesday after ending the regular trading day down 1.7%.