McDonald's (NYSE: MCD) has been quite the up-and-down stock in 2023. It flew high at various points thanks to its very strong fundamental performance, but it also turned south quickly when it announced the first raise in its franchise royalty fees in almost 30 years.

Yet the company recently signaled confidence in its future by raising its dividend by a very substantial amount. Let's peek under the bun at this dividend raise and see whether it supports the buy case for the restaurant behemoth's stock.

Last month, McDonald's announced its next quarterly payout would be $1.67 per share. Rounding up only slightly, that's 10% more than the preceding distribution.

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Source Fool.com