By Colin Kellaher

 

McDonald's Corp. on Thursday said its board raised the quarterly dividend by 3.2% to $1.29 a share from $1.25.

The Chicago-based fast-food giant said the increased dividend is payable Dec. 15 to shareholders of record Dec. 1.

The new payout, equal to $5.16 a year, represents an annual yield of 2.28% based on Wednesday's closing price of $226.48, up from 2.21%.

McDonald's said that while its results this year have been hurt by the coronavirus pandemic, the pace of recovery coupled with its strong financial position support an increased dividend while still allowing the company to invest in its business.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 08, 2020 08:14 ET (12:14 GMT)

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