FAT Brands (FAT) will start paying a quarterly dividend of $0.12 per share in the first quarter of 2018.

The first dividend is payable on April 16, 2018 to stockholders of record as of the close of business on March 30, 2018. The indicated dividend yield is 6.2% based on a stock price of $7.72.

“We are pleased to announce the initiation of a quarterly cash dividend, which we believe reflects the strength and stability of our business model. Our predictable cash flow generation and strong balance sheet provide the financial flexibility to continue to grow our portfolio of brands while simultaneously returning a meaningful amount of capital to our stockholders,” said Andy Wiederhorn, President and CEO of FAT Brands.

FAT Brands is a franchising company that acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns five restaurant brands, Fatburger, Buffalo’s Cafe, Buffalo’s Express and Ponderosa & Bonanza Steakhouses, that have approximately 300 locations open and 300 under development in 32 countries.