The Wendy's Company (WEN) will raise its quarterly dividend by another 11.1 percent to 10 cents quarterly in the second quarter of 2021.

This comes after a 2 cent dividend hike to 9 cents in Q1. Last year the dividend was cut by 58.3 percent to 5 cents per share by Wendy's because of the COVID-19 pandemic. This dividend cut ended 10 consecutive years of dividend increases by the restaurant operator.

The next dividend of $0.10 per share is payable on June 15, 2021, to shareholders of record as of June 1, 2021. A new annual rate of 40 cents per share yields approximately 1.8% at a stock price of $22.48 for Wendy's. The ex-dividend date for the next WEN dividend is May 28, 2021.

The Wendy's Company is quick-service hamburger company. Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef, freshly-prepared salads with hand-chopped lettuce, and other signature items like chili, baked potatoes and the Frosty dessert. The Wendy's system includes franchise and company-operated restaurants in the United States and worldwide. Wendy's is also a partner in a Canadian restaurant real estate joint venture with a subsidiary of Restaurant Brands International Inc. (Tim Hortons and Burger King). Wendy's was founded in 1969 by Dave Thomas in Columbus, Ohio.