It's time for doughnut lovers' favorite holiday: National Doughnut Day.

Shops across the country are handing out free doughnuts in celebration of the festivities. The holiday has been around since 1938 as a Great Depression fundraiser, when the Salvation Army declared the first Friday of every June National Doughnut Day.

Related: Encouraged by Solid Year, Dunkin' Aims to Conquer New Markets

Krispy Kreme is celebrating with a no-strings-attached deal: one free doughnut at participating locations, all day. Krispy Kreme is known for embracing quirky holidays, handing out free doughnuts for costumed customers on International Talk Like a Pirate Day

Dunkin' Donuts is also handing out free treats, with a free doughnut with any beverage purchase. While Canada-based Tim Horton's doesn't celebrate National Doughnut Day in its home country, the 870 restaurants in the U.S. are handing out free doughnuts for customers who wish cashiers "Happy National Donut Day." 

Related: Krispy Kreme's Quirky 'Pirate' Promotion Lures Hungry Buccaneers