By Stephen Nakrosis
McDonald's Corp. on Thursday said its board declared a quarterly cash dividend of $1.38 per share, a 7% increase over the company's previous dividend.
The new dividend will be payable December 15 to shareholders of record at the close of business on December 1, the company said.
"The dividend increase reflects confidence in the Accelerating the Arches growth strategy and a continued focus on driving long-term profitable growth for all stakeholders." McDonald's said.
Also on Thursday, the company said it was resuming its share repurchase program.
Write to Stephen Nakrosis at firstname.lastname@example.org
(END) Dow Jones Newswires