McDonald’s (NYSE:MCD) had a rough time in 2014. The typically solid stock floundered, losing 2.81% on the year. 2015 couldn’t have been any different, with shares gaining 27.67% on the year at the time of this writing, with the largest part of that growth coming in the last quarter of the year.

The excitement was mainly due to early signs of its turnaround working. The company’s third quarter results showed a 4% increase in global comparable-store sales growth, a massive improvement from the months leading up to it, which saw negative sales growth in almost every region.

Most notably, comparable-store sales growth was up 0.9% in the United States, marking the first time the company saw positive quarterly same-store sales growth in two years.

So the big question now is whether the rest of the company’s turnaround has already been baked into its share price, or if there’s still room to grow in 2016. I’m thinking it’s the latter, and I’ll tell you why.

Dividend remains strong

McDonald’s has been a dividend aristocrat for some time now, which is partly the reason why its share prices didn’t tumble more than they did during its bad run in 2014. The current yield stands at 3.56%, and the company increased it by 5% following the last earnings call. In case there is some negative news of report during the coming year, the dividend will likely keep investors from selling in droves.

What’s stopping sales growth?

The biggest reason for McDonald’s slumping 2014 was a pair of food scandals in Asia, first reports that one of its suppliers had been packaging expired meat with fresh meat, and the second a slew of reports in Japan of people finding unsavory things in their food. It didn’t help that the company was forced to ration its French fry supply in Japan due to a strike on U.S. west coast shipping docks.

Now that it seems those are past, what’s stopping the company from seeing improved sales growth in those regions moving forward?

The U.S. is also looking up, with the company aiming to refranchise 4,000 of its restaurants by 2018, putting its franchise level at 93%. With franchises performing better than company-owned restaurants, this is a great move for future growth. The company’s moves to offer all-day breakfast and its Create Your Taste kiosks are enough to freshen up its offering and renew interest among customers who may have been pulled elsewhere in the past few years.

Conclusion

McDonald’s turnaround plans have been largely focused on corporate structure, but they’ve also put an emphasis on giving customers what they want, more so than the company has done in recent years. While the food will likely remain just as unhealthy as it always has been, it knows its target market and, with its new CEO Steve Easterbrook, has proven this year that it can change its course for the better. Looking forward to 2016, it’s likely that McDonald’s shares will continue to see all-time highs and give investors reason to be bullish once again.