Company Update (NYSE:MCD): McDonald’s Announces Quarterly Cash Dividend

[PR Newswire] – OAK BROOK, Ill., May 26, 2016 /PRNewswire/ — Today, McDonald’s Board of Directors declared a quarterly cash dividend of $0.89 per share of common stock payable on June 20, 2016 to shareholders of record at the close of business on June 6, 2016. Steve Easterbrook, President and Chief Executive Officer, and Kevin Ozan, Chief Financial Officer, will participate in Bernstein’s Strategic Decisions Conference at 8:00 a.m. (Eastern Time) on June 1, 2016. McDonald’s plans to release second quarter results before the market opens on July 26, 2016 and will host an investor webcast. Read more on this. McDonald’s Corp. (MCD) , with a current value of $108.67B, started the session at $123.38. Today, shares have traded between $123.23 and $123.98 per share with the price of the stock fluctuating between $87.50 to $131.96 over the last 52 weeks. MCD shares are currently priced at 22.21x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 23.05x earnings multiple. And for passive income investors, the company pays shareholders $3.56 per share annually in dividends, yielding 2.90%. Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $1.40 per share, which would be $0.14 better than the year-ago quarter and a $0.04 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $5.55 would be a $0.57 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.29 Billion. If reported, that would be a 3.23% decrease over the year-ago quarter. Recently, Longbow Initiated MCD at Neutral (Mar 18, 2016). Previously, Argus upgraded MCD from Hold to Buy. Given all the information above, we should disclose to readers that the average price target is $132.14, which is 7.10% above than it opened this morning. See more in (NYSE:MCD) Similar Articles: Company Update: McDonalds Corporation (NYSE:MCD) – McDonald’s to add more than 1,500 outlets in China, HK, Korea Company Update: McDonalds Corporation (NYSE:MCD) – McDonald’s Celebrates Friendship by Sending 100 Kids From Around the World to Be in the Rio 2016 Olympics Opening Ceremony Market Update (NASDAQ:PCAR): PACCAR Announces Extra Cash Dividend and Regular Quarterly Dividend