McDonald's (NYSE: MCD) is set to join fewer than 60 U.S. public companies as the newest Dividend King, a designation for companies that have paid and raised their dividends for at least 50 consecutive years. The fast food giant's latest quarterly payout of $1.93 per share marks a 4% increase over its prior payout. And at $7.72 per share -- McDonald's now has a forward dividend yield of 3.2% -- which is higher than most Dividend Kings and roughly triple the yield of the S&P 500 (SNPINDEX: ^GSPC). Investors who own the stock by Dec. 1 will be eligible to receive the $1.93 per share payout on Dec. 15. Here's why McDonald's is one of the best restaurant stocks to buy now. Image source: The Motley Fool.
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