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McDonald’s restarts share buybacks as business recovers from pandemic hit By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: McDonald’s logo seen outside McDonald’s fast food restaurant in New York City, U.S.A, 22 October 2019. REUTERS/Shannon Stapleton

(Reuters) – McDonald’s Corp (NYSE:) 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 buyback programme in the early part of last year to save cash and navigate the COVID-19 crisis, which saw many restaurants close.

The company raised its guidance for fiscal 2021 to $1.38 per share in July, citing increased global sales and the expectation that customers will return to the restaurant as soon as the economies recover.

On December 15, the burger restaurant announced a quarterly cash dividend of $1.38 per shares, bringing its fourth-quarter dividend payout over $1 million.

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