Current Yield
2.73%
TTM Dividend/Share
$7.35
Payment Frequency
Quarterly
Payout Ratio
60.6%
Consecutive Growth Years
37 (Dividend Champion)
Key takeaways
- Dividend Champion — McDonald's (MCD) has raised its dividend for 37 consecutive years.
- McDonald's (MCD) currently yields 2.73%, paying $7.35 per share over the trailing twelve months, distributed quarterly.
- Payout ratio is 60.6% — the share of earnings distributed as dividends.
- 5 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 7.30% (growth is decelerating).
Dividend yield valuation for McDonald's (MCD)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Above average — potential buy zone |
Current yield (now) | 2.73% |
1-year average yield | 2.35%now 0.38 pp above |
3-year average yield | 2.26%now 0.47 pp above |
5-year average yield | 2.18%now 0.55 pp above |
MCD: a yield above its history can signal value (or risk); below can signal a rich price. One valuation signal among many — review fundamentals before investing.
Dividend health for McDonald's (MCD)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 10.0% |
FCF payout ratio | 18.9% |
Net debt / EBITDA | 3.6x |
Interest coverage | 7.86x |
ROIC (TTM) | 18.6% |
Dividend safety score for McDonald's (MCD)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
5 of 8 checks passed
Payout ratio below 75%
Payout ratio is 60.6%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $1.9B — FCF fully covers the payout.
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
37 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 18.9%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 3.6x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (7.3%) exceeds EPS growth (-0.7%) — payout ratio expanding.
This analysis is for informational purposes only and is not financial advice. Safety scores and comparisons reflect historical data and do not predict future performance.
Per-payment dividend history
178 payments from 1976 to 2026 · Adj. Dividend is split-adjusted
| Jun 2, 2026 | Jun 16, 2026 | $1.8600 | $1.8600 |
| Mar 3, 2026 | Mar 17, 2026 | $1.8600 | $1.8600 |
| Dec 1, 2025 | Dec 15, 2025 | $1.8600 | $1.8600 |
| Sep 2, 2025 | Sep 16, 2025 | $1.7700 | $1.7700 |
| Jun 2, 2025 | Jun 16, 2025 | $1.7700 | $1.7700 |
| Mar 3, 2025 | Mar 17, 2025 | $1.7700 | $1.7700 |
| Dec 2, 2024 | Dec 16, 2024 | $1.7700 | $1.7700 |
| Sep 3, 2024 | Sep 17, 2024 | $1.6700 | $1.6700 |
| Jun 3, 2024 | Jun 17, 2024 | $1.6700 | $1.6700 |
| Feb 29, 2024 | Mar 15, 2024 | $1.6700 | $1.6700 |
| Nov 30, 2023 | Dec 15, 2023 | $1.6700 | $1.6700 |
| Aug 31, 2023 | Sep 18, 2023 | $1.5200 | $1.5200 |
- Jun 2, 2026$1.8600
- Mar 3, 2026$1.8600
- Dec 1, 2025$1.8600
- Sep 2, 2025$1.7700
- Jun 2, 2025$1.7700
- Mar 3, 2025$1.7700
- Dec 2, 2024$1.7700
- Sep 3, 2024$1.6700
- Jun 3, 2024$1.6700
- Feb 29, 2024$1.6700
- Nov 30, 2023$1.6700
- Aug 31, 2023$1.5200
Historical dividend yield for McDonald's (MCD)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 2.35%5Y: 2.18%10Y: 2.32%
Dividend per share for McDonald's (MCD)
CAGR (per year)1Y: 5.75%5Y: 7.30%10Y: 7.62%↓ Decelerating
| Year | Total ($/share) | Payments |
|---|---|---|
| 1976 | $0.00 | 3 |
| 1977 | $0.00 | 4 |
| 1978 | $0.01 | 4 |
| 1979 | $0.01 | 4 |
| 1980 | $0.02 | 4 |
| 1981 | $0.02 | 4 |
| 1982 | $0.03 | 4 |
| 1983 | $0.04 | 4 |
| 1984 | $0.04 | 4 |
| 1985 | $0.05 | 4 |
| 1986 | $0.05 | 4 |
| 1987 | $0.06 | 4 |
| 1988 | $0.09 | 5 |
| 1989 | $0.08 | 4 |
| 1990 | $0.08 | 4 |
| 1991 | $0.09 | 4 |
| 1992 | $0.10 | 4 |
| 1993 | $0.11 | 4 |
| 1994 | $0.12 | 4 |
| 1995 | $0.13 | 4 |
| 1996 | $0.15 | 4 |
| 1997 | $0.16 | 4 |
| 1998 | $0.18 | 4 |
| 1999 | $0.20 | 4 |
| 2000 | $0.21 | 1 |
| 2001 | $0.23 | 1 |
| 2002 | $0.23 | 1 |
| 2003 | $0.40 | 1 |
| 2004 | $0.55 | 1 |
| 2005 | $0.67 | 1 |
| 2006 | $1.00 | 1 |
| 2007 | $1.50 | 1 |
| 2008 | $1.63 | 4 |
| 2009 | $2.05 | 4 |
| 2010 | $2.26 | 4 |
| 2011 | $2.53 | 4 |
| 2012 | $2.87 | 4 |
| 2013 | $3.12 | 4 |
| 2014 | $3.28 | 4 |
| 2015 | $3.44 | 4 |
| 2016 | $3.61 | 4 |
| 2017 | $3.83 | 4 |
| 2018 | $4.19 | 4 |
| 2019 | $4.73 | 4 |
| 2020 | $5.04 | 4 |
| 2021 | $5.25 | 4 |
| 2022 | $5.66 | 4 |
| 2023 | $6.23 | 4 |
| 2024 | $6.78 | 4 |
| 2025 | $7.17 | 4 |
| 2026 | $3.72 | 2 |
Dividend growth for McDonald's (MCD)
Year-over-year change in total annual dividend per share (split-adjusted, by ex-dividend year). Green is an increase, red a cut.
Dividend Increase Track Record
Year-over-year change in total annual DPS (dividends per share, split-adjusted), based on ex-dividend date.
| 2026 | $7.1700 | — | — |
| 2025 | $6.7800 | $7.1700 | +5.8% |
| 2024 | $6.2300 | $6.7800 | +8.8% |
| 2023 | $5.6600 | $6.2300 | +10.1% |
| 2022 | $5.2500 | $5.6600 | +7.8% |
| 2021 | $5.0400 | $5.2500 | +4.2% |
| 2020 | $4.7300 | $5.0400 | +6.6% |
| 2019 | $4.1900 | $4.7300 | +12.9% |
| 2018 | $3.8300 | $4.1900 | +9.4% |
| 2017 | $3.6100 | $3.8300 | +6.1% |
| 2016 | $3.4400 | $3.6100 | +4.9% |
| 2015 | $3.2800 | $3.4400 | +4.9% |
| 2014 | $3.1200 | $3.2800 | +5.1% |
| 2013 | $2.8700 | $3.1200 | +8.7% |
| 2012 | $2.5300 | $2.8700 | +13.4% |
| 2011 | $2.2600 | $2.5300 | +11.9% |
| 2010 | $2.0500 | $2.2600 | +10.2% |
| 2009 | $1.6250 | $2.0500 | +26.2% |
| 2008 | $1.5000 | $1.6250 | +8.3% |
| 2007 | $1.0000 | $1.5000 | +50.0% |
| 2006 | $0.6700 | $1.0000 | +49.3% |
| 2005 | $0.5500 | $0.6700 | +21.8% |
| 2004 | $0.4000 | $0.5500 | +37.5% |
| 2003 | $0.2350 | $0.4000 | +70.2% |
| 2002 | $0.2250 | $0.2350 | +4.4% |
| 2001 | $0.2150 | $0.2250 | +4.7% |
| 2000 | $0.1950 | $0.2150 | +10.3% |
| 1999 | $0.1762 | $0.1950 | +10.6% |
| 1998 | $0.1613 | $0.1762 | +9.3% |
| 1997 | $0.1463 | $0.1613 | +10.3% |
| 1996 | $0.1313 | $0.1463 | +11.4% |
| 1995 | $0.1167 | $0.1313 | +12.4% |
| 1994 | $0.1052 | $0.1167 | +10.9% |
| 1993 | $0.0988 | $0.1052 | +6.6% |
| 1992 | $0.0906 | $0.0988 | +9.0% |
| 1991 | $0.0830 | $0.0906 | +9.2% |
| 1990 | $0.0754 | $0.0830 | +10.1% |
| 1989 | $0.0856 | $0.0754 | -12.0% |
| 1988 | $0.0606 | $0.0856 | +41.3% |
| 1987 | $0.0492 | $0.0606 | +23.2% |
| 1986 | $0.0489 | $0.0492 | +0.6% |
| 1985 | $0.0421 | $0.0489 | +16.0% |
| 1984 | $0.0359 | $0.0421 | +17.3% |
| 1983 | $0.0291 | $0.0359 | +23.3% |
| 1982 | $0.0235 | $0.0291 | +24.2% |
| 1981 | $0.0183 | $0.0235 | +28.4% |
| 1980 | $0.0126 | $0.0183 | +45.1% |
| 1979 | $0.0079 | $0.0126 | +59.4% |
| 1978 | $0.0043 | $0.0079 | +82.8% |
| 1977 | — | $0.0043 | — |
- 2026—
- 2025$7.1700
- 2024$6.7800
- 2023$6.2300
- 2022$5.6600
- 2021$5.2500
- 2020$5.0400
- 2019$4.7300
- 2018$4.1900
- 2017$3.8300
- 2016$3.6100
- 2015$3.4400
- 2014$3.2800
- 2013$3.1200
- 2012$2.8700
- 2011$2.5300
- 2010$2.2600
- 2009$2.0500
- 2008$1.6250
- 2007$1.5000
- 2006$1.0000
- 2005$0.6700
- 2004$0.5500
- 2003$0.4000
- 2002$0.2350
- 2001$0.2250
- 2000$0.2150
- 1999$0.1950
- 1998$0.1762
- 1997$0.1613
- 1996$0.1463
- 1995$0.1313
- 1994$0.1167
- 1993$0.1052
- 1992$0.0988
- 1991$0.0906
- 1990$0.0830
- 1989$0.0754
- 1988$0.0856
- 1987$0.0606
- 1986$0.0492
- 1985$0.0489
- 1984$0.0421
- 1983$0.0359
- 1982$0.0291
- 1981$0.0235
- 1980$0.0183
- 1979$0.0126
- 1978$0.0079
- 1977$0.0043
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Frequently asked questions
Comparison
McDonald's (MCD) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation