McDonald's Lifts Quarterly Dividend By 11%

McDonald's Corp MCD has announced a hike in its quarterly dividend by 11%. MCD has lifted its cash dividend to $0.61 per share. The dividend will be paid on December 15 to shareholders on record at the end of business on December 1. McDonald's paid its 1st dividend in 1976 and has raised its dividend every year since then. MCD is also planning to post its Q3 results on October 21. MCD's Chief Executive Jim Skinner said, "With today's announced dividend increase, we expect the 2010 total cash returned to shareholders to be approximately $5 billion, split between dividends and share repurchases." MCD's shares lost 0.17% to $75.00 in pre-market trading. Read more from Benzinga's Company news.