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McDonald's beats on a broad front, increasing its dividend (MCD)



  McDonald's Employee Customer Soda

McDonald's shares gained about 2% on Tuesday morning after the burger giant posted gains in the third quarter that exceeded Wall Street estimates.

The fast food chain released on a quarterly Tuesday The earnings of $ 2.10 per share surpassed analysts' expected $ 1.99. Revenue declined 6.6% to $ 5.37 billion, but that was higher than Wall Street expected $ 5.32 billion.

Meanwhile, McDonald said that sales in the same business in the US increased 2.4%, reflecting the growth of the average check due to product mix shifts and menu price increases, which corresponded to analysts' forecasts. G Comparable revenues increased 4.2% year-over-year, exceeding the expected [36%growthof

"We are confident that our strategy will result in long-term, profitable growth," said CEO Steve Easterbrook a press release.

"In addition to achieving 1

3 consecutive quarters of positive global comparable sales, we have made substantial progress in modernizing restaurants around the world, improving hospitality, and enhancing the experience for the millions of customers we serve every day . "

The company announced that it has returned to shareholders in the third quarter through share repurchases and dividends $ 1.7 billion and increases its quarterly dividend by 15% to 1.16 [$19659008] per share beginning in the fourth quarter.

McDonald's dropped 1.68% this year through Monday.

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  MCD Markets Insider


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