McDonald’s Corporation declared a quarterly common stock cash dividend of 4 7/8 cents per share payable on December 15, 1999 to shareholders of record on December 1.
McDonald’s also announced that beginning in 2000, cash dividends will be paid on an annual, instead of quarterly, basis. In the future, annual dividends declared at the discretion of McDonald’s Board of Directors will be paid in December.
Annual dividends will reduce the Company’s dividend payment processing costs. In addition, given that a majority of the quarterly dividend checks issued by the Company are for less than $1, McDonald’s registered shareholders will no longer be inconvenienced with handling dividend checks for very small amounts. McDonald’s is the largest and best-known food service retailer, with more than 25,000 restaurants serving more than 40 million people a day in 118 countries. On any day, even as the market leader, McDonald’s serves less than one percent of the world’s population.