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Stock impact report

McDonald's suspended its $15 billion buyback program several weeks ago [CNBC]

McDonald's Corporation (MCD) 
Last mcdonald's corporation earnings: 4/30 06:58 am Check Earnings Report
Company Research Source: CNBC
McDonald's "Really, for us, we just wanted to maintain maximum flexibility as we went into this crisis and be as nimble as we needed to," Kempczinski told CNBC's Carl Quintanilla on " Closing Bell In 2019, the fast-food giant spent $5 billion repurchasing 25 million shares, according to its annual regulatory filing. In December, the company's board authorized the repurchase of $15 billion in outstanding stock with no expiration date. Buybacks have come under scrutiny as industries ask for financial assistance from the government to weather the coronavirus pandemic. President Donald Trump that he will not oppose a ban on future buybacks Kempczinski said that McDonald's would not make any changes to its quarterly cash dividend of $1.25, calling it a "priority." "We have the best balance sheet in the industry," he said. Only 50 out of 14,000 McDonald's U.S. locations have closed due to the pandemic. Substantially all restaurants have closed their dining rooms, serving customers only thro Show less Read more
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