Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

McDonald's restarts share buybacks as business recovers from pandemic hit

Published 09/23/2021, 07:17 PM
Updated 09/23/2021, 08:02 PM
© Reuters. FILE PHOTO: The McDonald's logo is seen outside the fast-food chain McDonald's in New York, U.S., October 22, 2019. REUTERS/Shannon Stapleton

(Reuters) - McDonald's Corp (NYSE:MCD) said on Thursday it would restart share buybacks and also increased its quarterly dividend by 7%, as the world's largest fast food chain recovers from the impact of the COVID-19 pandemic.

McDonald's had suspended its $15 billion buyback program early last year as the burger chain looked to conserve cash in order to navigate through the COVID-19 health crisis that had forced many of its restaurants to close their doors to diners.

But global sales are now above pre-pandemic levels, with the company raising its guidance for fiscal 2021 in July on the hope people will continue to head out to restaurants as economies reopen.

The burger chain declared a quarterly cash dividend of $1.38 per share payable on December 15, taking its fourth-quarter dividend payout to over $1 billion.

Latest comments

Super size it please
Can u say Big Mac
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.