Fast sales growth is one thing, but what income investors really prize is cash flow. It's cash that funds those regular dividend payments, and cash that determines how quickly a company can boost its annual payouts in the future. Earnings move up and down for many reasons, but, as the saying goes on Wall Street, "cash flow is destiny."

If you screen for stocks based on the cash-flow metric, you're bound to see McDonald's (NYSE: MCD) pop up time and again. The fast-food specialist generates close to $9 billion of operating cash flow per year, or nearly 40% of its sales. That's just one of many reasons to like this dividend giant's stock right now.

One key reason why McDonald's is so much more profitable than its industry peers is that it receives a steady stream of fees from its army of franchisees. Yet the company's long-term growth still depends on its ability to satisfy fast-food fans with an unbeatable combination of quality, value, and convenience.

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Source Fool.com