McDonald’s Corp said its board of directors has raised the world’s biggest hamburger chain’s quarterly cash dividends almost 15% to 70 cents per share, The Washington Post reported.
The dividend will be payable on December 15 to the shareholders of record at the close of business on December 1.
McDonald’s chief executive Jim Skinner said, “Today’s announced dividend increase brings our 2011 expected total cash return to shareholders to about $6 billion through dividends and share repurchases.”
McDonald’s, one of the top-performing US restaurant operators, has raised its dividend every year since paying its first dividend in 1976.
The new quarterly dividend of 70 per share is equivalent to $2.80 annually. The company’s prior cash dividend was 61 cents per share, or $2.44 annually.
The company has consistently outperformed its competitors during and since the recession within its increasingly diverse menu-ranging from value offerings to higher-margin products like blended-ice drinks.
The competitive pricing was a part of what helped its growth during the economic downturn, but the company has been increasing some menu prices of late in order to decrease higher commodity costs.
Earlier this month, it reported global same-store sales grew a slower-than-expected 3.5% in August amid a slight decline in the Asia/Pacific, Middle East and Africa regions.
McDonald’s is the leading global food service retailer with more than 33,000 local restaurants serving more than 64 million people in 118 countries. The company serves foods like world famous fries, Big Mac, Quarter Pounder, Chicken McNuggets and Egg McMuffin.
