Dividend aristocrat McDonald’s (MCD) has posted a sharp fall in worldwide sales at its fast-food restaurants in March, due to the coronavirus outbreak.
Same-store sales at McDonald’s restaurants globally fell 22.2% in March. U.S. comparable sales for March were down 13.4%, down 34.7% in International Operating Markets, down 19.4% in International Developmental Licensed Markets & Corporate.
So far, 75% of the group’s global restaurants are operational, the company said, with the majority of them have adapted to focus on drive-through, delivery, and/or take-away options.
The management continues to work with suppliers on contingency plans to ensure a continuous supply of food to continue operating. McDonald’s also raised $6.5 billion through new debt in the first quarter.
McDonald’s closed on Wednesday at $177.49, up +1.08%. Year to date the stock is down almost 12% and the current dividend yield is 2.8%.
