McDonald's turned negative Thursday after an executive mentioned the one thing investors in the Dow component don't want to see the new management fix: its dividend.
Shares traded 0.5 percent lower after CFO Kevin Ozan started talking about the fast food stock's dividend on the company's post-earnings conference call. They later extended losses before rebounding after the call ended. (Click here to get the latest quote.)
"As we execute the initial steps of our turnaround plan, we're actively evaluating our capital allocation decisions including our dividend as part of our broader strategic planning process. As a result, we're targeting our annual dividend announcement in November this year, a slight change in timing from our typical September update," he said on the call.