Latin American McDonald's franchisee Arcos Dorados (NYSE:ARCO) announced today its second-quarter dividend of $0.0596 per share on its Class A and Class B stock, slightly lower than the steady rate of $0.0597 per share it's paid since 2011.
The board of directors said the quarterly dividend is payable on July 5 to the holders of record at the close of business on July 2. The company will be paying out $12.5 million in cash dividends this quarter.
The regular dividend payment equates to approximately a $0.24-per-share annual dividend, yielding 1.8% based on the closing price of Arcos Dorados' stock on June 18.
Fool contributor Rich Duprey owns shares of Arcos Dorados. The Motley Fool recommends McDonald's and owns shares of Arcos Dorados and McDonald's. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.