Yum Brands Authorizes Up to $2 Billion in Additional Share Repurchases

Date : 08/10/2018 @ 9:59AM
Source : Dow Jones News
Stock : Yum! Brands, Inc. (YUM)
Quote : 84.2  1.33 (1.60%) @ 4:04PM

Yum Brands Authorizes Up to $2 Billion in Additional Share Repurchases

Yum (NYSE:YUM)
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   By Aisha Al-Muslim 
 

Yum! Brands Inc. (YUM) announced the authorization of up to $2 billion in share repurchases through the end of 2019.

The Louisville, Ky.-based parent of KFC, Pizza Hut and Taco Bell said Friday the new program is in addition to about $329 million remaining under its prior share buyback authorization as of the end of the company's second quarter.

The company's board of directors also declared a dividend of 36 cents a share. The quarterly dividend will be paid Sept. 7 to shareholders of record at the close of business Aug. 20.

Shares, up nearly 10% in the last year, fell 0.3% to $82.50 in premarket trading Friday.

 

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

 

(END) Dow Jones Newswires

August 10, 2018 09:44 ET (13:44 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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