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McDonald's will not spin off its real estate through a real estate investment trust, the company said on Tuesday at its annual investor meeting.

McDonald’s, which already has a heavily-franchised model, also announced on Tuesday that it aims to be 93% franchised by 2018, up from a previous target of 90%. In the long run, it wants to become 95% franchised. Additionally, it’s raising its dividend by 5% to 89 cents per share and upping its targeted cash return to shareholders through 2016 by $10 billion, which will be funded by issuing additional debt.

The company didn’t provide an update on its nationwide roll-out of all-day breakfast, other than to say that it was going “a little above what we were expecting,” in the words of CEO Steve Easterbrook.

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