Nov 11, 2015 06:37 AM EST

McDonald's Latest Menu Addition — Three Mozzarella Sticks For A Dollar!

McDonald's latest menu addition is a treat — three mozzarella sticks for a dollar!

McDonald's U.S. President Mike Andres made the announcement Tuesday in New York City at an investors' meeting.

He also told the crowd, “While we know the vast majority of our growth will come from national initiatives, regional empowerment has given our local markets the power to plus up the national plan, drive incremental sales and profit, and provide a pipeline of new ideas for the system.”

McDonald's will be introducing the three for a dollar mozzarella sticks starting next year at all its restaurants nationwide.

According to Business Insider, the fried cheese sticks were tested this summer in Wisconsin. At that time, McDonald's stated that fast-food customers wanted more options for their snacks.

In July, a McDonald's franchisee remarked to Fox 6 that customers "are looking for the ability to customize their meals a little more."

"People are snacking more often these days and looking for more options to create a right-sized meal for them. Mini meals allow them to do just that at an amazing value."

Buzzfeed News has learned that at the said meeting, investors were told that 2016 will see the Golden Arches company selling the mozzarella sticks which are first fried before reaching its destination in all McDonald's restaurant nationwide. Once ordered, these yummy sticks, which you can get for a dollar ($1) will then be baked on-site.

According to a spokesperson, the launch of McDonald's mozzarella sticks is an example of how the company draws ideas from its regional franchisees as well as international markets for fresh national menu products.

Furthermore, this move by McDonald's is part of the plan to change the course of the fast-food chain into a "modern, progressive" company.

Meanwhile, McDonald's stock is doing great in Tuesday's mid-afternoon trading — 0.58 percent to $113.59. These figures came following the company's declaration at their investors' meeting that a real estate investment trust will not be created.

The operational and financial risks of an REIT spin-off were greater than the benefits, including tax advantages, as per McDonald's.

In addition, The Street reported the fast food chain increased its Q4 dividend by 89 cents per share to 5 percent and repeated that its expectations for the fourth quarter's sales would be positive.

McDonald's also aims to become franchised by 95 percent and it has raised its re-franchising goal from 3,500 restaurants to 4,000.

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