McDonald's: US sales rebound, dividend raised
(CercleFinance.com) - McDonald's reported a rebound in quarterly sales at its US restaurants, boosted by large group orders and a strong performance of its dinner options.
The world's largest fast-food chain said on Thursday that US same-restaurant sales at McDonald's rose 4.6% in the three months ended 30 September.
The company said that marketing investments and resulting promotional activity drove low double-digit comparable sales in the month of September, despite comparable guest counts remaining negative for the quarter.
McDonald's also announced a quarterly cash dividend of 1.29 dollars per share, a 3% increase over its previous quarterly dividend.
"While current year business results have been impacted by the Covid-19 pandemic, the pace of recovery paired with the company's strong financial position support this increase to the dividend while still giving the company the ability to invest in the business," it said.
Investors proved lukewarm about all these announcements, as McDonald's shares dropped around 0.4%. in early morning trading on Thursday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The world's largest fast-food chain said on Thursday that US same-restaurant sales at McDonald's rose 4.6% in the three months ended 30 September.
The company said that marketing investments and resulting promotional activity drove low double-digit comparable sales in the month of September, despite comparable guest counts remaining negative for the quarter.
McDonald's also announced a quarterly cash dividend of 1.29 dollars per share, a 3% increase over its previous quarterly dividend.
"While current year business results have been impacted by the Covid-19 pandemic, the pace of recovery paired with the company's strong financial position support this increase to the dividend while still giving the company the ability to invest in the business," it said.
Investors proved lukewarm about all these announcements, as McDonald's shares dropped around 0.4%. in early morning trading on Thursday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.