McDonald's Corp. (MCD) has announced that it is increasing its quarterly dividend payment by 10%.
The quick service restaurant chain said that, as of December 15 this year, stockholders will receive a dividend payment of $1.67 U.S. per share, up 9.9% from $1.52 U.S. previously.
The higher payment gives McDonald’s a dividend yield of 2.66% based on the current share price.
Over the last 10 years, the Golden Arches has more than doubled its annual dividend payment to $6.68 U.S. a share from $3.08 U.S.
McDonald’s paid its first dividend to shareholders in 1976 and has increased it every year since.
The company is known as a “dividend aristocrat,” which is a going concern that has raised its dividend payout for 25+ consecutive years.
The stock of McDonald’s has risen 6% over the last 12 months to trade at $251.52 U.S. per share.
