Hamburger chain Wendy's to buy back $1.4 billion of shares

[June 03, 2015]  (Reuters) - Hamburger chain Wendy's Co <WEN.O> said it would buy back $1.4 billion of shares by the end of 2016, including $211 million from Nelson Peltz's Trian Group, its largest shareholder.

The company also adjusted its full-year earnings forecast on Wednesday to reflect the sale of its bakery operations. Wendy's said it expected 2015 adjusted earnings of 31-33 cents per share, excluding about 2 cents per share attributable to its bakery operations. The company said in May that it was selling its bakery operations. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Kirti Pandey) [© 2015 Thomson Reuters. All rights reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.