McDonald's Raises Quarterly Dividend 6%
September 29 2016 - 9:10AM
Dow Jones News
McDonald's Corp. on Thursday said it raised its quarterly
dividend 6%, flipping more cash to shareholders as the fast-food
giant continues to benefit from its turnaround plan.
The board declared a 94-cents-a-share quarterly dividend—$3.76
annually—ringing the company's fourth-quarter payout to nearly $800
million.
"I'm encouraged by the meaningful progress we've made against
our turnaround plan," said Chief Executive Steve Easterbrook,
adding the increase reflects the "strength and stability of our
cash flow."
McDonald's has raised its dividend every year since paying its
first one in 1976. The company said 2016 marks the final year of
its plan to return $30 billion of cash to shareholders over three
years. Through August, McDonald's returned $26 billion and is on
track to fill out the remainder by year-end.
Shares, inactive premarket, have risen 18% over the past 12
months.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
September 29, 2016 08:55 ET (12:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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