In a PR issued in tandem with the company's annual investor meeting (runs from 1PM-5PM ET, webcast), McDonald's (MCD +1.4%) confirms it's not pursuing a REIT for its real estate assets. Exec Pete Bensen: "We have concluded that any potential value creation from a REIT is out-weighed by the significant financial and operational risks to our business and the continued progress of our turnaround."
Also announced: McDonald's is hiking its quarterly dividend by 5% to $0.89/share (3.1% yield at current levels). The next dividend is payable on Dec. 15 to shareholders on record as of Dec. 1. $30B worth of capital returns are now expected over the 3-year period ending 2016, up from a prior $20B.
The company now aims to refranchise 4K restaurants, up from a prior target of 3.5K. 93% of restaurants are expected to be franchised by the end of 2018, up from a current 81%. McDonald's is also hiking its G&A cost savings target by $200M/year to $500M/year; it aims to cut its G&A base by nearly 20% from the start of 2015.
For 2016, on a constant currency basis, McDonald's is aiming for 3%-5% system-wide sales growth, 5%-7% op. income growth, capex of $2B, and a 1-year ROIC in the high teens. ~1K new restaurants are expected to be opened. In actual dollars, consensus is for revenue to drop 3.3% in 2016 to $24.5B.
McDonald's (MCD) declares $0.81/share quarterly dividend, 5% increase from prior dividend of $0.77.
Forward yield 3.28%.
For shareholders of record Dec.02. Payable Dec. 16. Ex-div date Nov. 28.
Sep. 18, 2013, 4:39 PM|12 Comments
Jul. 18, 2013, 4:55 PM
McDonald's Corporation (MCD) declares $0.77/share quarterly dividend, in line with previous. Forward yield 3.07%. For shareholders of record Sept. 3. Payable Sept. 17. Ex-div Aug. 29. (PR) Jul. 18, 2013, 4:55 PM|3 Comments
May 23, 2013, 8:13 AM
McDonald's (MCD) declares $0.77/share quarterly dividend, in line with previous. Forward yield 3.03%. For shareholders of record June 3. Payable June 17. Ex-div date May 30. (PR) May 23, 2013, 8:13 AM|2 Comments
Sep. 20, 2012, 5:07 PM
McDonald's (MCD) declares $0.77/share quarterly dividend, 10% increase from prior dividend of $0.70. Forward yield 3.31%. For shareholders of record Dec 03. Payable Dec 17. Ex-div date Nov 29. (PR) Sep. 20, 2012, 5:07 PM