Yesterday, October 4th the Board of Directors of McDonald's Corporation (MCD) announced a quarterly dividend increase of from $1.52 to $1.67 per share that’s payable December 15, 2023 to holders of record December 1, 2023. This represents a 9.87% increase over the last quarterly dividend. The increase over the Company's previous quarterly dividend reflects continued confidence in the Accelerating the Arches growth strategy and a focus on driving long-term profitable growth for all stakeholders.
McDonald's has a strong history of returning capital to its shareholders and has raised its dividend for 47 consecutive years since paying its first dividend in 1976.
With current price $256.00 (today's open), this raise brings their dividend yield to 2.61%.
McDonald's is a Dividend Champions with a 47 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.8, 6.2, 8.1 and 7.0 (Dividend Champions.xls)
Since I own 20 shares of MCD, this will increase my portfolio's projected annual net dividend income by $8.94.
I was expecting an increase of around 6%, so the one now announced is considerably higher than my own expectations, which I am of course glad to accept.
This is the tenth dividend increase I received from McDonald's Corporation since initiating a position August 2014. During this period, the quarterly dividend has risen comfortably from $ 0.81 to $ 1.67, or 106.2 percent.
This increase raises my YOC to 7.07%.
Summary of 2023 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long MCD
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