(Reuters) - CHICAGO, April 20 - McDonald's Corp. reported higher first-quarter earnings on Friday on strong U.S. demand for its new chicken Snack Wrap and improved performance in international markets such as China, Japan, France and Russia.
The world's largest hamburger chain operator also said it has reached an agreement to franchise nearly 1,600 restaurants in Latin America and the Caribbean to an organization led by entrepreneur Woods Staton. McDonald's said it expected to receive about $700 million for the sale of the operations and will use the funds for dividends and share repurchases. The company now expects to pay out $5.7 billion for dividends and share repurchases in 2007 and 2008.
Read more at Reuters.com Market News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment