McDonald’s resumes share buybacks as company recovers from pandemic

Sept. 23 (Reuters) – McDonald’s Corp (MCD.N) 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 suspended its $ 15 billion buyout program early last year as the burger chain sought to save money in order to weather the COVID-19 health crisis that had forced many of its restaurants to close their doors to guests.

But global sales are now above pre-pandemic levels, with the company raising its forecast for fiscal 2021 in July in the hopes that people will continue to visit restaurants as economies reopen. Read more

The hamburger chain declared a quarterly cash dividend of $ 1.38 per share payable on December 15, bringing its fourth quarter dividend to more than $ 1 billion.

Uday Sampath report in Bangalore; Editing by Krishna Chandra Eluri

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