McDonald's boosts dividend by 5 percent

McDonald’s says it’s raising its quarterly dividend by 5 percent to 85 cents per share.

The world’s biggest hamburger chain said the dividend will be payable Dec. 15 to shareholders of record Dec. 1. The company noted it has raised its dividend every year since 1976.

McDonald’s, based in Oak Brook, has been struggling to boost sales in its flagship U.S. market amid intensifying competition and changing eating habits. The company reported a slightly lower profit in its most recent quarter. Sales in China also recently took a hit after a TV report showed a long-time supplier using expired meat.

Shares of McDonald’s Corp. are down about 5 percent over the past year.

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THE ASSOCIATED PRESS