Wendy’s/Arby’s (WEN) Posts Mixed Q3 Results; Guides FY10 Comps; Q3 Comps Down 1.7%; Increases Quarterly Dividend 33%; Authorizes Addt'l $170M Common Buyback

Wendy’s/Arby’s Group, Inc. (NYSE: WEN) reports Q3 EPS of $0.05, 1 cent better than the consensus of $0.04. Revenue for the quarter came in at $861.2 million, compared to the consensus of $881.92 million. Systemwide comps down 1.7%. The Company announced today that the Board of Directors has authorized an additional $170 million for its common stock repurchase program. In addition, the program expiration date has been extended from January 2, 2011 to January 1, 2012. This $170 million authorization, along with the $80 million that the Company had authorized and available as of November 2, 2010, brings the total amount authorized and available to $250 million. The Company announced the declaration of a regular quarterly cash dividend of $0.02 per share, a 33% increase, compared to its previous regular quarterly dividend of $0.015 per share. The dividend is payable on December 15, 2010 to Wendy’s/Arby’s Group, Inc. stockholders of record as of December 1, 2010. The ex-dividend date is November 29, 2010. Sees FY10 same-store sales at Wendy’s North America company-operated restaurants down approximately 1%. Sees FY10 negative same-store sales at Arby’s North America company-operated restaurants, but improving on a year-over-year basis.... Read more

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