McDonald's Corporation
MCDConsumer Cyclical · Restaurants · Stock · quarterly payer
Forward Yield
3.09%
Annual Dividend
$7.72
Payout Ratio
60%
5-Yr Growth
7.3%
Ex-Date
Dec 1, 2026
Frequency
Quarterly
Key facts about MCD's dividend
Data as of · Source: SmarterDividends data
- As of Oct 29, 2026, McDonald's Corporation (MCD) has a forward dividend yield of 3.09%, based on an annual dividend of $7.72 per share and a share price of $250.50.
- As of Oct 29, 2026, MCD's dividend safety grade from SmarterDividends is A (86 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, McDonald's Corporation (MCD) has raised its dividend for 17 consecutive years as of Oct 29, 2026.
- MCD has never cut its regular dividend in the payment history SmarterDividends has on record.
- MCD's next ex-dividend date is Dec 1, 2026, with payment on Dec 15, 2026. Shares must be owned before that date to receive the dividend.
- As of Oct 29, 2026, MCD pays out 60% of its trailing 12-month earnings as dividends (its payout ratio).
- MCD's dividend has grown at an average rate of 7.3% a year over the past five years.
- As of Oct 29, 2026, MCD's 3.09% yield is 35% above its five-year average yield of 2.28%.
- As of Oct 29, 2026, SmarterDividends' blended fair-value estimate for MCD is $164.28 per share, 34% below the $250.50 share price, so MCD screens as overvalued.
- McDonald's Corporation (MCD) pays its dividend quarterly, 4 times a year.
- McDonald's Corporation (MCD) has raised its regular dividend 52 times and cut it 1 time across the 178 payments on record since 1976. Its most recent change was a 5.1% increase to $1.86 per share, going ex-dividend on Dec 1, 2025. The last cut went ex-dividend on Feb 28, 2008.
- McDonald's (MCD) has declared its first higher dividend of the year in October in 3 of the last 5 years; its most recent raise, 5.1%, was declared on Oct 22, 2025.
Cite this page
SmarterDividends, "MCD Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 29, 2026, https://smarterdividends.com/stocks/MCD
Summary
As of Oct 29, 2026, McDonald's Corporation (MCD) yields 3.09% ($7.72 a year per share), has a dividend safety grade of A (86/100) and has 17 consecutive years of dividend increases on record.
Is MCD a good dividend stock?
YesMcDonald's Corporation (MCD) pays a quarterly dividend yielding 3.09% ($7.72/yr), with 17 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 17 consecutive years of dividend growth
- Never cut its dividend on record
- Comfortable payout ratio (60%)
- Strong 7.3% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 3.09%
- Payout Ratio
- 60%
- Annual Dividend
- $7.72
- 5-Yr Avg Growth
- 7.3%
- Ex-Dividend Date
- Dec 1, 2026
- Years of Growth
- 17
- Frequency
- quarterly
- Beta
- 0.45
- Market Cap
- $177.3B
- P/E Ratio
- 20.3
- 5-Yr Total Return
- 2%
- 52-Week Range
- $229.20 – $341.75
- Dividend Safety
- A · 86/100
- Ever Cut?
- No
MCD dividend raises and cuts
McDonald's Corporation (MCD) has raised its regular dividend 52 times and cut it 1 time across the 178 payments on record since 1976. Its most recent change was a 5.1% increase to $1.86 per share, going ex-dividend on Dec 1, 2025. The last cut went ex-dividend on Feb 28, 2008.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Dec 1, 2025 | Raise | $1.77 → $1.86 | +5.1% |
| Dec 2, 2024 | Raise | $1.67 → $1.77 | +6.0% |
| Nov 30, 2023 | Raise | $1.52 → $1.67 | +9.9% |
| Nov 30, 2022 | Raise | $1.38 → $1.52 | +10.1% |
| Nov 30, 2021 | Raise | $1.29 → $1.38 | +7.0% |
| Nov 30, 2020 | Raise | $1.25 → $1.29 | +3.2% |
| Nov 29, 2019 | Raise | $1.16 → $1.25 | +7.8% |
| Nov 30, 2018 | Raise | $1.01 → $1.16 | +14.9% |
| Nov 30, 2017 | Raise | $0.940 → $1.01 | +7.4% |
| Nov 29, 2016 | Raise | $0.890 → $0.940 | +5.6% |
| Nov 27, 2015 | Raise | $0.850 → $0.890 | +4.7% |
| Nov 26, 2014 | Raise | $0.810 → $0.850 | +4.9% |
Show all 53 changes since 1977
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 27, 2013 | Raise | $0.770 → $0.810 | +5.2% |
| Nov 29, 2012 | Raise | $0.700 → $0.770 | +10.0% |
| Nov 29, 2011 | Raise | $0.610 → $0.700 | +14.8% |
| Nov 29, 2010 | Raise | $0.550 → $0.610 | +10.9% |
| Nov 27, 2009 | Raise | $0.500 → $0.550 | +10.0% |
| Nov 26, 2008 | Raise | $0.375 → $0.500 | +33.3% |
| Feb 28, 2008 | Cut | $1.00 → $0.375 | −62.5% |
| Nov 13, 2006 | Raise | $0.670 → $1.00 | +49.3% |
| Nov 10, 2005 | Raise | $0.550 → $0.670 | +21.8% |
| Nov 10, 2004 | Raise | $0.400 → $0.550 | +37.5% |
| Nov 12, 2003 | Raise | $0.235 → $0.400 | +70.2% |
| Nov 13, 2002 | Raise | $0.225 → $0.235 | +4.4% |
| Nov 13, 2001 | Raise | $0.215 → $0.225 | +4.7% |
| Nov 13, 2000 | Raise | $0.0490 → $0.215 | +338.8% |
| Mar 11, 1999 | Raise | $0.0450 → $0.0490 | +8.9% |
| May 28, 1998 | Raise | $0.0410 → $0.0450 | +9.8% |
| May 29, 1997 | Raise | $0.0375 → $0.0410 | +9.3% |
| May 31, 1996 | Raise | $0.0340 → $0.0375 | +10.3% |
| May 30, 1995 | Raise | $0.0300 → $0.0340 | +13.3% |
| Jun 1, 1994 | Raise | $0.0268 → $0.0300 | +12.1% |
| Jun 1, 1993 | Raise | $0.0250 → $0.0268 | +7.0% |
| May 27, 1992 | Raise | $0.0238 → $0.0250 | +5.3% |
| Feb 25, 1992 | Raise | $0.0230 → $0.0238 | +3.3% |
| May 29, 1991 | Raise | $0.0213 → $0.0230 | +8.2% |
| May 30, 1990 | Raise | $0.0193 → $0.0213 | +10.4% |
| May 24, 1989 | Raise | $0.0175 → $0.0194 | +10.7% |
| May 24, 1988 | Raise | $0.0156 → $0.0175 | +12.0% |
| Jul 23, 1987 | Raise | $0.0156 → $0.0156 | +0.3% |
| May 20, 1987 | Raise | $0.0138 → $0.0156 | +13.3% |
| Jul 23, 1986 | Raise | $0.0125 → $0.0138 | +10.0% |
| May 31, 1985 | Raise | $0.0114 → $0.0125 | +9.8% |
| Oct 23, 1984 | Raise | $0.0107 → $0.0114 | +6.0% |
| May 23, 1984 | Raise | $0.0093 → $0.0107 | +16.0% |
| May 24, 1983 | Raise | $0.0081 → $0.0093 | +13.6% |
| Oct 15, 1982 | Raise | $0.0074 → $0.0081 | +10.0% |
| May 24, 1982 | Raise | $0.0062 → $0.0074 | +20.0% |
| May 13, 1981 | Raise | $0.0049 → $0.0062 | +25.0% |
| Jun 5, 1980 | Raise | $0.0035 → $0.0049 | +42.8% |
| May 21, 1979 | Raise | $0.0022 → $0.0035 | +55.6% |
| May 16, 1978 | Raise | $0.0012 → $0.0022 | +79.9% |
| May 12, 1977 | Raise | $0.0006 → $0.0012 | +100.2% |
Frequently Asked Questions
Is MCD a good dividend stock?
Yes. McDonald's Corporation (MCD) pays a quarterly dividend yielding 3.09% ($7.72/yr), with 17 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is MCD undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MCD's fair value is about $164.28 versus a $250.50 share price — so it looks overvalued (-34% vs. fair value).
Is MCD's dividend safe?
MCD has a dividend-safety grade of A (86/100), based on its payout coverage, free-cash-flow, 17-year growth streak, a clean no-cut history, debt and yield-versus-history.
What is MCD's fair value?
Our blended fair-value estimate for MCD is about $164.28 per share, about 34% below the current $250.50 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is MCD a buy, hold, or sell?
We don't issue formal ratings, but on the data MCD screens as "yes" and overvalued. McDonald's Corporation (MCD) pays a quarterly dividend yielding 3.09% ($7.72/yr), with 17 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will MCD cut its dividend?
MCD earns a dividend-safety grade of A (86/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does MCD pay a dividend?
Yes. McDonald's Corporation pays a quarterly dividend of about $7.72 per share annually, a forward yield of roughly 3.09%.
What is MCD's dividend yield?
As of Oct 29, 2026, MCD's forward dividend yield is 3.09%, based on a $7.72 annual dividend and a $250.50 share price.
What is MCD's dividend per share?
As of Oct 29, 2026, MCD pays $7.72 per share per year, distributed on a quarterly basis.
What is MCD's dividend payout ratio?
As of Oct 29, 2026, MCD's payout ratio is 60% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has MCD grown its dividend?
As of Oct 29, 2026, MCD has increased its dividend for 17 consecutive years.
When is the next MCD ex-dividend date?
As of Oct 29, 2026, the next ex-dividend date on record for MCD is Dec 1, 2026.
MCD Price — Last 12 Months
Daily close
Price Return
1 Year
-20%
3 Years
-12%
5 Years
+2%
52-Week Range
$229.20 – $341.75
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MCD worth?
Overvaluedhigh confidenceOur blended fair-value estimate for McDonald's Corporation is $164.28 per share, versus a market price of $250.50. That implies 34% of downside.
Fair Value
$164.28
Current Price
$250.50
Downside
-34%
Margin of Safety
-52%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 12.3% annual free-cash-flow growth. We model 5.0% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 5.0% growth for five years fading to 2.5% over the next five, $12.31 EPS, $7.72 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MCD Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full MCD dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 1, 2026 | Sep 16, 2026 | $1.8600 | regular |
| Jun 2, 2026 | Jun 16, 2026 | $1.8600 | regular |
| Mar 3, 2026 | Mar 17, 2026 | $1.8600 | regular |
| Dec 1, 2025 | Dec 15, 2025 | $1.8600 | regular |
| Sep 2, 2025 | Sep 16, 2025 | $1.7700 | regular |
| Jun 2, 2025 | Jun 16, 2025 | $1.7700 | regular |
| Mar 3, 2025 | Mar 17, 2025 | $1.7700 | regular |
| Dec 2, 2024 | Dec 16, 2024 | $1.7700 | regular |
| Sep 3, 2024 | Sep 17, 2024 | $1.6700 | regular |
| Jun 3, 2024 | Jun 17, 2024 | $1.6700 | regular |
| Feb 29, 2024 | Mar 15, 2024 | $1.6700 | regular |
| Nov 30, 2023 | Dec 15, 2023 | $1.6700 | regular |
| Aug 31, 2023 | Sep 18, 2023 | $1.5200 | regular |
| Jun 2, 2023 | Jun 20, 2023 | $1.5200 | regular |
Income Calculator
At $7.72 / yr per share
Similar Dividend Stocks
Compare MCD
Explore more
Lists and tools related to MCD
- Does McDonald's pay dividends? →
- Companies that raise dividends in October →
- Stocks that pay dividends in December →
- Safest dividend stocks →
- Consumer Cyclical dividend stocks →
- MCD dividend calculator →
- MCD DRIP calculator →
- MCD: last day to buy for the dividend →
- Embed MCD dividend data on your site →
- Dividend increases & cuts this week →
- Dividend calendar →
- Dividend calculator →
- Dividend income calculator →
- DRIP calculator →
- Latest dividend cuts →
- Dividend cuts this month (research note) →
- Dividend increases this month (research note) →
- Safety score track record →
- Dividend screener →
- Dividend history lookup →
- Guide: what is a good dividend yield? →
- Guide: how to value a dividend stock →