Wendy’s (WEN) announced that its 2013 profits will easily beat its 2012 figures as WEN stock is up over 6% Monday morning.
The fast food chain said that it will return close to 50% of its balance sheet cash to shareholders. Wendy’s will being a ‘Dutch Auction’ to rebuy up to $275 million in common stock for between $8.50 and $9.25 a share.
The company reported preliminary 2013 same-store sale gains of 1.9% with revenue down to $2.87 billion. Wendy’s fourth-quarter sales totaled $592.4 million which is below the $629.9 million in 2012.
WEN stock is up 6.46% in early trading Monday.