Wingstop Inc. (WING) will raise its quarterly dividend by 22.2 percent to $0.11 per share in 2019. Last year the restaurant company hiked its dividend by almost thirty percent and also paid a special dividend.

The next dividend will be paid on September 13, 2019 to stockholders of record as of August 30, 2019. A new annual rate of 44 cents per share yields 0.5% at a stock price of $92.

“Our second quarter results showcase the potential for our business as we execute on the strategies that support our vision to become a top 10 global restaurant brand,” commented Charlie Morrison, Chairman and Chief Executive Officer of Wingstop. “We generated strong quarterly same store sales growth of 12.8%, as we continued to focus on strategic initiatives including the phased rollout of delivery, enhanced digital ordering capabilities, and driving brand awareness through our national advertising campaign. Further, our asset light business model continues to deliver strong free cash flow conversion, positioning us to provide a 22% increase in our quarterly dividend.  Looking ahead to the second half of 2019 and beyond, we are encouraged by the trajectory of our business and will continue to execute against these strategies.”

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.