McDonald's Raises Dividend 4% to $1.93 as Q3 EPS Grows 10% Despite U.S. Sales Slip

Published November 4, 2026 at 9:22 AM EST

McDonald's raised its quarterly dividend 4% to $1.93 per share after third-quarter earnings grew 10% even as U.S. comparable sales slipped, according to its 8-K released Wednesday.

Diluted EPS rose to $3.51 from $3.18. Excluding restructuring charges of $0.06 per share tied to its Accelerating the Organization program, EPS was $3.57, up 11%. Consolidated revenue grew 1% to $7.157 billion, and operating income rose 7% to $3.595 billion.

Global systemwide sales increased 4% to more than $38 billion.

U.S. guests pull back

Global comparable sales grew 1.5%, down from 3.6% growth a year earlier. U.S. comparable sales fell 0.2%, as negative guest counts were largely offset by higher average checks.

"In the U.S., we're encouraged by improvement as the quarter progressed following our intervention on value," said Chairman and CEO Chris Kempczinski.

International Operated Markets comparable sales rose 1.4%, led by Germany and Australia and partly offset by France. International Developmental Licensed Markets grew 4.2%, led by Japan, while China posted negative comparable sales.

Loyalty and charges

Systemwide sales to loyalty members across 70 markets topped $11 billion in the quarter and reached $41 billion over the trailing 12 months.

Pre-tax charges were $56 million in the quarter, compared with $39 million a year earlier, mostly restructuring costs. Excluding those charges in both years, operating income rose 8%. Net income increased 9% to $2.486 billion.

Dividend

The 4% dividend increase lifts the quarterly payout to $1.93 per share.

For the first nine months, revenue rose 5% to $20.773 billion and diluted EPS grew 8% to $9.61.

By the numbers

Q3 revenue: $7.157 billion, up 1%
Diluted EPS: $3.51, up 10%
Global comparable sales: up 1.5%
U.S. comparable sales: down 0.2%
Quarterly dividend: $1.93, up 4%

Sources

McDonald's Form 8-K with third-quarter 2026 earnings release, filed Nov. 4, 2026 (accession 0000063908-26-000080)

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