McDonald's hikes dividend 33%
September 26, 2008
by FoodBusinessNews.net Staff
OAK BROOK, ILL. — The board of directors of McDonald’s Corp. has declared a quarterly cash dividend of 50c per share on the common stock payable Dec. 15 to shareholders on record as of Dec. 1.
The dividend represents a 33% increase and a quarterly dividend payout of more than $550 million.
"Today’s substantial dividend increase is yet another indication of the strength and momentum of our global business," said Jim Skinner, chief executive officer. "By focusing on our customers and staying disciplined in our execution, we continue to drive sales, profits and ultimately cash provided by operations, which increased by more than $700 million in the first half of this year. We are confident in our ability to invest in key growth opportunities and maintain a strong credit rating even as we return a significant amount of cash to shareholders."
McDonald’s has returned $5.1 billion year-to-date in 2008 and $5.7 billion in 2007 to shareholders through dividends and share repurchases.