a special cash dividend of $3.05 per share, payable on December 3, 2018 to stockholders of record as of November 26, 2018. This special dividend is the second such return of capital to stockholders this year, with a prior special dividend of $3.17 per share paid to Wingstop stockholders in February 2018.

The newly declared dividend is in conjunction with the completion of the Company’s previously announced securitization financing, with the placement by its special purpose subsidiary (the “Issuer”) of a new series of $320 million of securitized notes (the “Notes”).  The Notes include Series 2018-1 Class A-2 Senior Secured Notes that are subject to 1% annual amortization, bear interest at a rate of 4.97% per annum, and have an anticipated repayment date of December 2023. Interest and principal payments on the Notes are payable on a quarterly basis.

In addition to the special cash dividend payment, the proceeds from the sale of the Notes will be used to repay and retire existing senior secured indebtedness, to pay transaction costs associated with the refinancing, and for general corporate purposes.

In addition to the Class A-2 Senior Secured Notes, the Issuer also entered into a $20 million variable funding note facility, which will allow the Issuer to borrow amounts as needed on a revolving basis.

Chairman and Chief Executive Officer Charlie Morrison stated, “This financing enables us to maintain an optimal capital structure on favorable terms and return capital to shareholders. We are also pleased to be declaring a $3.05 per share special dividend, the second one this year, which we believe is almost unheard of among public companies. This return of capital demonstrates our continued commitment to drive shareholder value and highlights our confidence in Wingstop’s highly-franchised, differentiated business model and ‘category of one’ brand positioning.”