Yum! Brands, Inc. Declares Quarterly Dividend of $0.50 Per Share and Announces Authorization of up to $2 Billion in Share Repurchases

Rhea-AI Summary

Yum! Brands has declared a quarterly dividend of $0.50 per share, to be distributed on June 11, 2021, to shareholders recorded by May 28, 2021. Furthermore, the Board approved a new share repurchase program allowing up to $2 billion in repurchases from July 1, 2021, to December 31, 2022. This follows an unutilized prior authorization ending on June 30, 2021 due to suspended repurchases in 2020 amid COVID-19 uncertainties. Yum! Brands operates over 50,000 restaurants worldwide across leading food categories.

Positive

• Declaration of a quarterly dividend of $0.50 per share enhances shareholder value.
• New share repurchase authorization of up to $2 billion may positively impact stock price and earnings per share.
• Maintained strong market position with over 50,000 restaurants in 150 countries.

Negative

• Prior share repurchase authorization was not fully utilized, indicating potential missed opportunities.

Yum! Brands, Inc. (NYSE: YUM) Board of Directors declared a dividend of $0.50 per share of common stock. The quarterly dividend will be distributed June 11, 2021 to shareholders of record at the close of business on May 28, 2021.

Yum’s Board of Directors also approved a new share repurchase authorization which authorizes repurchases of up to $2 billion in shares of common stock from July 1, 2021, through December 31, 2022. The prior outstanding authorization approved in November 2019 expires on June 30, 2021. The November 2019 authorization is not expected to be fully utilized at the time of its expiration due to the temporary suspension of share repurchases in 2020 in response to the uncertainty of the impact of COVID-19.

Yum! Brands, Inc., based in Louisville, Kentucky, has over 50,000 restaurants in more than 150 countries and territories primarily operating the Company’s KFC, Pizza Hut, and Taco Bell brands – global leaders of the chicken, pizza, and Mexican-style food categories. The Company’s family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. Yum! Brands was included on the 2021 Bloomberg Gender-Index and in 2020, Yum! Brands was named to the Dow Jones Sustainability Index North America and was ranked among the top 100 Best Corporate Citizens by 3BL Media.

Category: Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20210510005935/en/

FAQ

What is the dividend declared by Yum! Brands?

Yum! Brands declared a quarterly dividend of $0.50 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on June 11, 2021, to shareholders recorded by May 28, 2021.

What is the amount of the new share repurchase authorization for Yum! Brands?

The new share repurchase authorization is up to $2 billion.

What is the duration of Yum! Brands' new share repurchase program?

The repurchase program is authorized from July 1, 2021, through December 31, 2022.

Why was the previous share repurchase authorization not fully utilized?

The previous authorization was not fully utilized due to the suspension of share repurchases in 2020 amid COVID-19 uncertainties.