Key Developments For McDonald's Corporation
McDonald's Corporation (MCD.N) (New York Stock Exchange)
McDonald's Corporation To Shut Business In Iceland-Reuters
Reuters reported that McDonald's Corporation will shutter its business in Iceland because it is too expensive for the franchise to operate after the country's financial crisis. The Company said that all three of its restaurants in Iceland, operated by franchisee Jon Ogmundsson, would stop operating at midnight on October, 31.
McDonald's Corporation Comments On October 2009 Same Store Sales Outlook-Reuters
Reuters reported that McDonald's Corporation expects same store sales to remain positive in October 2009 even though people eat out less often.
McDonald's Corporation Raises Quarterly Cash Dividend By 10%
McDonald's Corporation announced that it has declared a quarterly cash dividend of $0.55 per share of common stock payable on December 15, 2009 to shareholders of record at the close of business on December 1, 2009. This represents a 10% increase over the Company's previous quarterly dividend rate.
McDonald's Corporation India To Add 40 More Outlets; Invest INR150 Crore-Business Standard
Business Standard reported that McDonald's Corporation plans to open 40 new outlets across India this fiscal at an investment of INR150 crore. The investment will be at around INR3 crore per outlet including back head costs.
Salvador Court Upholds $24 Million Judgment Versus McDonald's Corporation-DJ
Dow Jones reported that El Salvador's Supreme Court upheld an order requiring McDonald's Corporation to pay damages of $24 million to a franchise owner who says his contract was unfairly terminated. The court "confirmed what the second civil court ordered in December 2005, a Supreme Court source told AFP. The ruling favors former McDonald's Corporation's franchise owner Roberto Bukele, who sued McDonald's Corporation's in 1996, after the Company terminated its franchise agreement with him. McDonald's Corporation's accused Bukele of failing to follow its quality criteria - an accusation he denied and in 2005, a court ordered the Company to pay the former franchisee $23.9 million.
