Under pressure from stockholders to raise stock prices, Wendy’s International Inc. will offer up to 18 percent of it’s portion of the Tim Horton donut chain to the public and close as many as 450 of it’s Wendy’s fast food restaurants, it was announced on Friday.

The value of shares in Wendy’s have risen by 45 percent in the past two years in comparison with a 99 percent rise in the worth of shares in McDonald’s in the same period.

The plan calls the closure of as many as 60 of its company-owned stores and the sale of around 400 to franchisees.

It will also slow the opening of new stores to around 40 per year next year, down from an average of 71 new openings per year in the past four years.

Wendy’s will also sell the real estate at 217 franchise sites, buy back $1 billion in shares, and increase its dividend by 25 percent.

One analyst said that the announced moves will have no real impact on the company’s business dynamics, but will increase value to shareholders in the short run.

On the announcement of the new plan, shares in the Dublin, Ohio-based company gained $5.55 to $50.82 by mid-morning on the New York Stock Exchange.

The Wendy’s hamburger chain has 6,727 restaurants around the world, Tim Hortons has 2,491 stores in Canada and 264 in the United States. Additionally, the Baja Fresh chain has 303 restaurants in the US.