The company, which makes Twinkies, Ding Dongs and Ho Hos, is also providing its employees one-time payments of $1,250 -- with $750 in cash and $500 in the form of a 401(k) contribution.

The head of Dignity Health, a California-based network of hospitals and other health care facilities, has joined the board of McDonald's.

The company will boost wages to $10 by in 2016 for workers with at least six months of employment.

Chipotle Mexican Grill Inc. investors cast more than three-quarters of their votes against the pay levels.