Wingstop Inc. (WING) will raise its quarterly dividend by 27.3 percent to 14 cents per share in 2020. This follows a 22.2 percent hike to $0.11 per share in 2019 by the restaurant company.

In a press release the company announces its second quarter 2020 financial results and announces the dividend hike: In recognition of the Company's strong cash flow generation, confidence in the business, and our commitment to returning value to stockholders, our Board of Directors approved a 27% increase in the quarterly dividend payable to Wingstop stockholders from $0.11 to $0.14 per share of common stock, resulting in a total dividend of approximately $4.1 million. This dividend will be paid on September 11, 2020 to stockholders of record as of August 28, 2020.

A new annual rate of 56 cents per share yields 0.3% at a stock price of $168.

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 ounded in 1994 and headquartered in Dallas, Texas and currently operates more than 1,100 restaurants.