McDonald's (MCD) Raises Quarterly Dividend 5.6% to $0.94; 3.3% Yield

September 29, 2016 7:59 AM EDT

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McDonald's (NYSE: MCD) declared a quarterly dividend of $0.94 per share, or $3.76 annualized. This is a 5.6% increase from the prior dividend of $0.89.

The dividend will be payable on December 15, 2016, to stockholders of record on December 1, 2016, with an ex-dividend date of November 29, 2016.

The annual yield on the dividend is 3.3 percent.

McDonald's President and Chief Executive Officer Steve Easterbrook said, "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."

McDonald's has raised its dividend each and every year since paying its first dividend in 1976. The new quarterly dividend of $0.94 per share is equivalent to $3.76 annually. In addition, 2016 represents the final year of the Company's three-year, $30 billion cash return to shareholders target. Through August, the Company returned a cumulative $26 billion and is on track to complete the remaining amount by the end of the year.

For a dividend history and other dividend-related data on McDonald's (MCD) click here.

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