(Reuters) - McDonald's said it expected to receive about $700 million for the sale of the operations and will use the funds for dividends and share repurchases. The company now expects to pay out $5.7 billion for dividends and share repurchases in 2007 and 2008.
The company also said it will post a second-quarter charge of about $1.6 billion related to the sale of the restaurants, about half of which will be for the difference between the book value of the assets being sold and the cash proceeds. The other half will be for accumulated currency losses, the company said.
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