Dividend Aristocrat McDonald's Corporation (MCD) will increase its dividend by 5.6 percent to $0.94 quarterly in 2016.

McDonald's President and Chief Executive Officer Steve Easterbrook said, "I'm encouraged by the meaningful progress we've made against our turnaround plan and energized by the opportunities that lie ahead.

Today's dividend increase reflects the strength and stability of our cash flow and our continued focus on driving long-term value for all stakeholders."

The new quarterly dividend of $0.94 per share is equivalent to $3.76 annually. In addition, 2016 represents the final year of the Company's three-year, $30 billion cash return to shareholders target. Through August, the Company returned a cumulative $26 billion and is on track to complete the remaining amount by the end of the year.

McDonald's Corporation (McDonald's) operates and franchises McDonald's restaurants with locations in over 100 countries. Over 90% of McDonald's restaurants worldwide are owned and operated by independent local business men and women.  The Company's restaurants serve a locally relevant menu of food and drinks sold at various price points. McDonald's has raised its dividend each and every year since paying its first dividend in 1976.