Quarterly cash dividend increases 5% to $0.81 per share - the equivalent of $3.24 annually
On September 18, 2013, McDonald's Board of Directors declared a quarterly cash dividend of $0.81 per share of common stock payable on December 16, 2013, to shareholders of record at the close of business on December 2, 2013. This represents a 5% increase over the Company's previous quarterly dividend and brings the fourth quarter dividend payout to more than $800 million.
McDonald's President and CEO Don Thompson said, "Today's announced dividend increase brings our 2013 expected total cash return to shareholders to between $4.5 and $5.0 billion through dividends and share repurchases."
Mr. Thompson continued, "McDonald's commitment to enhancing the customer experience - from our menu and operations to our value and convenience - continues to move us closer to becoming our customers' favorite place and way to eat and drink. Our philosophy on the use of capital remains unchanged with our first priority being to reinvest in our business to drive sales and cash flow, while generating strong returns. After these investment opportunities, we expect to return all of our free cash flow to shareholders over the long-term through dividends and share repurchases. Today's dividend increase demonstrates the continued strength and sustainability of our cash flow and our commitment to enhancing shareholder value."
McDonald's has raised its dividend each and every year since paying its first dividend in 1976. The new quarterly dividend of $0.81 per share is equivalent to $3.24 annually.
McDonald's tentatively plans to release third quarter results before the market opens on October 21, 2013 and will host an investor webcast. This webcast will be broadcast live and available for replay for a limited time thereafter at www.investor.mcdonalds.com.
McDonald's is the world's leading global food service retailer with over 34,500 locations serving more than 69 million customers in more than 100 countries each day. More than 80% of McDonald's restaurants worldwide are owned and operated by independent local business men and women.
This release contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from our expectations are detailed in the Company's filings with the Securities and Exchange Commission, such as its annual and quarterly reports and current reports on Form 8-K.