The US company McDonald’s Corp., the world’s largest fast-food chain, has increased its quarterly dividend by 3.8 per cent to $1.93 per share, according to a press release from the company.
Payments will be made on 15 December. The record date for shareholders is 1 December.
The dividend yield on the company’s shares will be approximately 3.1 per cent per annum, based on current share prices.
“McDonald’s is marking a golden milestone by increasing its dividend for the 50th consecutive year, reflecting the longevity of the company’s business model, the stability of its cash flow and its commitment to steadily increasing dividends,” the statement said.
As a result, McDonald’s now ranks among the ‘dividend kings’ – a group comprising fewer than 60 companies in the US that have increased their dividends for at least 50 consecutive years.
McDonald’s market capitalisation has fallen by 8.8 per cent over the past three months (to $175 billion), whilst the Dow Jones Industrial Average has risen by 0.7 per cent.