Wendy's International (WEN)

Dividends

The Company has paid regular quarterly cash dividends on its Class A Common Stock and Class B Common Stock of $0.065 and $0.075 per share, respectively, from 2004 through June 2005 and $0.08 and $0.09 per share, respectively, from September 2005 through December 2006 aggregating $18,168,000 in 2004, $22,503,000 in 2005 and $30,509,000 in 2006. In addition, the Company paid special cash dividends (the “Special Cash Dividends”) of $0.15 per share on its Class A Common Stock and Class B Common Stock on each of March 1, 2006, July 14, 2006 and December 20, 2006, aggregating $39,531,000. On February 5, 2007 the Company declared regular quarterly cash dividends of $0.08 and $0.09 per share on its Class A Common Stock and Class B Common Stock, respectively, payable on March 15, 2007 to holders of record on March 1, 2007. The Company currently intends to declare and pay regular quarterly cash dividends; however, there can be no assurance that any regular quarterly dividends will be declared or paid in the future or of the amount or timing of such dividends, if any.

Dividends

       On March 15, 2005 and June 15, 2005, we paid regular quarterly cash dividends of $0.065 and $0.075 per share and on September 15, 2005 and December 15, 2005 we paid regular quarterly cash dividends of $0.08 and $0.09 per share on our class A and class B common stock, respectively, aggregating $22.5 million, including $1.6 million of dividends paid on our class A and class B common stock held in two deferred compensation trusts. On March 15, 2006, we paid regular quarterly cash dividends of $0.08 and $0.09 per share on our class A and class B common stock, respectively, to holders of record on March 2, 2006 aggregating $7.6 million. In addition, on March 1, 2006, we paid a special cash dividend of $0.15 per share aggregating $13.1 million on our class A common stock and class B common stock to holders of record on February 17, 2006. We have announced our intention to declare additional special cash dividends in 2006 aggregating $0.30 per share on our class A common stock and class B common stock that would be payable in two further installments. We currently intend to continue to declare and pay regular quarterly cash dividends. However, there can be no assurance that any dividends will be declared or paid in the future or of the amount or timing of such dividends, if any. If we pay regular quarterly cash dividends for the remainder of 2006 at the same rate as paid in our 2006 first quarter and pay two additional special dividends at the same rate as we paid in our 2006 first quarter, our total cash requirement for the regular and special cash dividends for all of 2006 would be $70.0 million based on the actual dividends paid in the first quarter and, for the remainder of the year, the number of our class A and class B common shares outstanding as of March 15, 2006.