WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts Inc. said Wednesday that it plans to buy back up to $20 million of its common stock.

The doughnut maker said that it had about 68 million outstanding shares as of Wednesday.

Last week Krispy Kreme reported that it returned to a profit in its fourth quarter. The Winston-Salem, N.C., company also stood by its full-year guidance.

Krispy Kreme has more than 690 locations in 21 countries. Its stock added 19 cents, or 2.6 percent, to $7.50 in morning trading. The shares have traded in a range of $5.10 to $10.08 over the last year.