Yum Adds $2 Billion to Stock Buyback Program
November 17 2016 - 8:10PM
Dow Jones News
Yum Brands Inc.—the owner of the KFC, Pizza Hut and Taco Bell
fast-food brands—is adding another $2 billion to its stock buyback
authorization.
The $2 billion, to be used by the end of 2017, would be on top
of what is left of its $4.2 billion authorization announced in May.
Last month, when it filed a quarterly regulatory form, the
Louisville, Ky.-based company said it had about $1.6 billion
remaining.
Yum, which has spun off its China business, has increased
considerably its return to shareholders, buying back some $3.76
billion of its stock through Sept. 3 and raising its quarterly
dividend by a nickel to 51 cents a share.
Yum's shares closed Thursday at $60.76, up 16% this year, while
Yum China Holdings Inc.'s shares closed at $27.09, up 6% over the
past month.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 17, 2016 19:55 ET (00:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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