That chart understates the cumulative return of McDonalds by 20%, since it is just a graph of price appreciation and does not include the effect of reinvesting

That chart understates the cumulative return of McDonalds by 20%, since it is just a graph of price appreciation and does not include the effect of reinvesting dividends. The proper cumulative return for McDonalds over that time period is actually 64.7%, assuming reinvestment of dividends.