Wendy's has decided to withdraw its financial outlook and reduce its quarterly dividend from 14 cents to 7 cents per share due to ongoing challenges in its turnaround efforts. CEO Bob Wright acknowledged that the company is not meeting its potential, citing a decline in quality differentiation and value proposition, and acknowledging inconsistent customer experiences.

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https://www.wsj.com/business/earnings/wendys-withdraws-outlook-cuts-dividend-as-turnaround-continues-3df62d5b

Wendy’s Withdraws Outlook, Slashes Dividend as Turnaround Struggles to Take Hold

Wendy’s slashed its quarterly cash dividend to 7 cents a share, from 14 cents a share

Connor Hart

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The illuminated Wendy's sign and logo against a dusk sky. Wendy’s withdrew its guidance and cut its dividend after second-quarter results.Al Drago/Bloomberg News

Wendy’s WEN2.23%increase; up pointing triangle withdrew its outlook and slashed its quarterly dividend, as the company’s turnaround struggles to pick up steam.

“We are not performing at our potential,” Chief Executive Bob Wright said on a call with analysts Friday. “Our quality differentiation has eroded, our value proposition has weakened, and we have not consistently delivered the experience customers expect from Wendy’s.”

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Wendy’s Withdraws Outlook, Slashes Dividend as Turnaround Struggles to Take Hold

Wendy’s Withdraws Outlook, Slashes Dividend as Turnaround Struggles to Take Hold

Wendy’s slashed its quarterly cash dividend to 7 cents a share, from 14 cents a share

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