September 24, 2009 / 8:43 PM / 9 years ago

UPDATE 1-McDonald's raises cash dividend by 10 percent

* Quarterly dividend rising 10 percent to 55 cents a share

* Expects to hit high end of total cash return target

LOS ANGELES, Sept 24 (Reuters) - McDonald’s Corp (MCD.N) raised its quarterly cash dividend by 10 percent to 55 cents per share, bringing the total quarterly dividend payout to around $600 million, the fast-food company said on Thursday.

So far in 2009, the global hamburger chain has returned nearly $4 billion to shareholders through dividends and share repurchases, Chief Executive Jim Skinner said in a statement.

“With today’s dividend increase, we expect to end the year near the high end of our three-year, $15 billion to $17 billion total cash return target,” Skinner said.

McDonald’s, one of the best performing companies in the restaurant sector, said it has raised its dividend each year since it began paying a dividend in 1976. (Reporting by Lisa Baertlein; Editing by Steve Orlofsky)

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