By Maria Armental
Yum Brands Inc. is setting aside $1 billion for possible share
buybacks through May 31, 2016, the company said Thursday.
Separately, the Louisville, Ky., restaurant operator that owns
KFC, Pizza Hut and Taco Bell said Elane Stock and Greg Creed have
joined its board of directors.
Mr. Creed, a 20-year veteran of Yum who has been the chief
executive of Taco Bell since early 2011, is set to take over Yum's
top post on Jan. 1, succeeding David C. Novak, who will become
executive chairman.
In September, Yum raised its dividend by 11%, citing substantial
cash flow. A dividend of 41 cents a share will be distributed on
Feb. 16.
Yum has increased its dividend at a double-digit percentage rate
in each of the past 10 years.
Shares rose 1% in recent after-hours trading to $76.54. Through
Thursday's market close, the company's stock was down 0.13% for the
year.
Write to Maria Armental at maria.armental@wsj.com
Access Investor Kit for Yum! Brands, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US9884981013
Subscribe to WSJ: http://online.wsj.com?mod=djnwires