Wendy's/Arby’s Group, Inc. (NYSE:WEN) has increased its stock repurchase authorization to $250 million. The stock repurchase program was authorized by the company’s board of directors in August of 2009. Up until March 19, 2010, the company has repurchased 30.4 million shares of its common stock for $14 million. The shares were bought at an average price of $.64 per share. The Group currently has $109 million available for stock repurchases under the Board’s authorization. As of March 19, 2010, Wendy's/Arby’s has 444 million shares of common stock outstanding. The stock repurchase program will be effective until January 2, 2011, enabling to company to making repurchases if the market conditions warrant.
Top Best Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign up for our Free Stock Newsletter.
Wendy’s/Arby’s Group, Inc. is the parent company of its wholly owned subsidiary holding company, Wendy’s/Arby’s Restaurants, LLC (Wendy’s/Arby’s Restaurants). Wendy’s/Arby’s Restaurants is the parent company of Wendy’s International, Inc. (Wendy’s) and Arby’s Restaurant Group, Inc. (ARG), which are the owners and franchisors of the Wendy’s and Arby’s restaurant systems, respectively. As of January 3, 2010, the Wendy’s restaurant system consisted of 6,541 restaurants, of which 1,391 were owned and operated by the Company. As of January 3, 2010, the Arby’s restaurant system consisted of 3,718 restaurants, of which 1,169 were owned and operated by the Company. The Company operates in two business segments: Wendy’s and Arby’s.
Sign up for Top Best Penny Stocks' free newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
Follow us on Twitter: http://www.Twitter.com/topbestps
About Us
Top Best Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
