NEW YORK (TheStreet) -- Shares of Dunkin' Brands (DNKN) are climbing on Thursday after the parent of Dunkin Donuts and Baskin-Robbins chains reported a 23% rise in quarterly profit. Sales at U.S. stores open at least a year rose 3.5%.  Dunkin' beat Wall Street expectations for both profit and revenue, earning 43 cents a share on an adjusted basis on total revenue of $183.2 million.  Analysts had expected profit of 40 cents a share on revenue of $178.4 million, according to Thomson Reuters.  The company said results were helped by strong sales of iced coffee and breakfast sandwiches.

VIDEO TRANSCRIPT:

Shares of Dunkin' Brands are climbing on Thursday after the parent of Dunkin' Donuts and Baskin-Robbins chains reported better-than-expected fourth-quarter results.

Dunkin' reported a 23% rise in quarterly profit as sales at U.S. stores open at least a year rose 3.5%.  Dunkin' was able to beat Wall Street expectations for both profit and revenue, earning 43 cents a share on an adjusted basis on total revenue of $183.2 million.  Analysts had expected profit of 40 cents a share on revenue of $178.4 million, according to Thomson Reuters.

The company said results were helped by strong sales of iced coffee and breakfast sandwiches.  Dunkin' also raised its quarterly dividend to 23 cents a share from 19 cents a share and announced a two-year share buyback program of up to $125 million.

At last check, shares of Dunkin' were climbing about 2.4% to $48.45.

In New York, I'm Brittany Umar for TheStreet.

-- Written by Brittany Umar in New York.

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