McDonald's Stock Hits Two-Year Low Despite Dividend Milestone

Shares of McDonald's Corporation fell to $248.48 on September 17, 2026, marking a two-year low and a 17.11% decline year-to-date. The stock has dropped significantly from prices above $330 earlier in the year, trading at its lowest forward multiple in over a decade while the broader S&P 500 has risen.

The slump follows a second-quarter performance where global comparable sales grew only 1.3% and U.S. comparable sales reached 0.8% amid negative traffic. CEO Chris Kempczinski attributed the results to an inconsistent rollout of the under-$3 value menu, reduced digital offers, and an underperforming FIFA campaign. Kempczinski stated that the company does not have a strategy problem, but rather failed to execute at the necessary level during the second quarter.

Simultaneously, the company announced a 4% dividend increase, its 50th consecutive annual raise, granting it Dividend King status. While this hike brings the yield to a six-year high of 3%, the capital loss on shares has offset these income gains for investors.

Despite the selloff, some analysts remain bullish, citing the $5 Meal Deal and digital loyalty monetization as growth drivers. The company is scheduled to hold an Investor Day on September 23 in Chicago, where Kempczinski expects to outline a path for U.S. operations to fully recover by 2027.