McDonald's Ticks Higher on Dividend Hike and Menu Revamp
McDonald's shares have ticked higher after hitting a fresh 52-week low amid concerns over slowing US customer traffic. The stock has risen to $261.90, up 0.30% from Tuesday's close. This rebound comes despite the company's domestic same-store sales growth slowing to 0.8% in its most recent quarterly results.
The slowdown in US sales growth is a concern for investors, but McDonald's has continued its long-running streak of annual dividend increases. The company raised its quarterly dividend by 5.1% to $1.86 a share, marking the 26th consecutive year it has increased its payout to shareholders.
The stock's ex-dividend date was September 1, meaning investors who purchased shares on or after that date will need to wait a full quarter before receiving the next payment. McDonald's dividend yield now sits at roughly 3.53%, a figure income-focused investors have increasingly pointed to as a core part of the investment case for McDonald's.