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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.
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(END) Dow Jones Newswires
August 10, 2018 09:44 ET (13:44 GMT)
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