Wingstop Inc. (WING) will raise its quarterly dividend by 28.6 percent to $0.09 per share in 2018. Last year the restaurant company initiated a quarterly dividend of $0.07 per share.

The next dividend will be paid on September 18, 2018 to shareholders of record as of September 4, 2018. The new annual dividend of $0.36 per share yields 0.6% at a stock price of $59.22 for WING. The stock has already gained 63.1 percent year-to-date including dividends.

Chairman and Chief Executive Officer Charlie Morrison stated, “We believe that raising our quarterly dividend demonstrates the strength of our overall business, our commitment to shareholder value and our confidence in future performance.”

Wingstop Inc. operates and franchises restaurants across the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, Colombia, and Panama. The Wing Experts’ menu features classic and boneless wings with 11 bold, distinctive flavors including Original Hot, Cajun, Atomic, Mild, Teriyaki, Lemon Pepper, Hawaiian, Garlic Parmesan, Hickory Smoked BBQ, Louisiana Rub, and Mango Habanero. Wingstop’s wings are always cooked to order, hand-sauced and tossed and served with a variety of house-made sides including fresh-cut, seasoned fries. Wingstop was founded in 1994 and headquartered in Dallas, Texas and currently operates more than 1,100 restaurants.