McDonald's Has Raised Its Dividend Every Year Since 1976
McDonald's Corporation (NYSE: MCD) announced a 6 percent increase in its quarterly dividend rate to $0.94 a share. This would involve a payout of close to $800 million for the company. This translates into $3.76 a share on an annualized basis.
The food retailer has been boosting its dividend every year since 1976. The company has set December 15 as the payable date, while December 1 has been fixed as the record date for determining the eligible shareholders to get the dividend.
President and CEO, Steve Easterbrook, commented, "I'm encouraged by the meaningful progress we've made against our turnaround plan and energized by the opportunities that lie ahead. Today's dividend increase reflects the strength and stability of our cash flow and our continued focus on driving long-term value for all stakeholders."
The company claimed it returned $26 billion to its shareholders on a cumulative basis and represented the final year of its three-year $30 billion cash return program. The food retailer expressed the confidence of completing the program before the current year ends.
The company's dividend offered approximately 3.10 percent yield.
The stock traded up by $0.22, or 0.19 percent, to $115.40 in the pre-market trading on Thursday.
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