The analysis suggests that McDonald's stock has pulled back 21% from its late February high, pushing its forward dividend yield to 2.8%. The company has increased its dividend for 49 consecutive years and is expected to announce its 50th consecutive increase in September or October, earning it the title of "Dividend King." Previously, McDonald's CEO Chris Kempczinski acknowledged that customer traffic was impacted by a constrained consumer environment, leading to system-wide comparable sales growth of only 1.3% and U.S. comparable sales growth of 0.8%.