Yum China Announces Disclosure under Hong Kong Stock Exchange Rules in Relation to a Possible Quarterly Dividend

Rhea-AI Summary

Yum China Holdings (NYSE: YUMC) announced that its board will consider declaring a quarterly dividend on February 8, 2023, in accordance with HKEX rules. As of now, no resolution for the dividend has been adopted, leaving its declaration uncertain. The company has reported having 12,409 restaurants across over 1,700 cities as of September 2022. Yum China ranked 359th on the Fortune 500 list in 2022 and has been recognized in several sustainability indices.

Positive

• Potential quarterly dividend under consideration, signaling shareholder returns.
• 12,409 restaurants in operation, indicating strong market presence.

Negative

• No assurance that the dividend will be declared, leading to uncertainty for investors.

SHANGHAI, Jan. 26, 2023 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987, "Yum China" or the "Company") today announced, in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "HKEX") which require advance notice of board meetings at which a dividend is expected to be declared, that its board of directors (the "Board") will consider the declaration and payment of a quarterly dividend (the "Dividend"). If the Board decides to proceed, the declaration will be adopted by Board resolution on or around February 8, 2023 (Beijing/Hong Kong Time) and will be promptly disclosed by the Company.

The Company makes available through the Investor Relations section of its internet website at http://ir.yumchina.com its filings with the HKEX as soon as reasonably practicable after electronically filing such material with the HKEX. These filings may also be obtained by visiting the HKEX's website at http://www.hkex.com.hk. 

As no Board resolution in relation to the Dividend has been adopted as of the date of this press release, there is no assurance that the Dividend will be declared.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should," "forecast," "outlook" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc. 

Yum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China's leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving innovative Mexican-inspired food. Yum China also owns the Little Sheep, Huang Ji Huang and COFFii & JOY concepts outright. In addition, Yum China has partnered with Lavazza to explore and develop the Lavazza coffee shop concept in China. The Company had 12,409 restaurants in over 1,700 cities at the end of September 2022.

In 2022, Yum China ranked 359^th on the Fortune 500 list. In December 2022, Yum China was selected as a member of both Dow Jones Sustainability Indices (DJSI): World Index and Emerging Market Index for the third consecutive year. The Company was also named to the Bloomberg Gender-Equality Index for the fourth consecutive year. In January 2023, the Company was certified as a Top Employer 2023 in China by the Top Employers Institute for the fifth consecutive year. For more information, please visit http://ir.yumchina.com.

Investor Relations Contact
Tel: +86 21 2407 7556 / +852 2267 5801
E-mail: IR@yumchina.com 

Media Contact
Tel: +86 21 2407 7510
E-mail: Media@yumchina.com 

 

View original content:https://www.prnewswire.com/news-releases/yum-china-announces-disclosure-under-hong-kong-stock-exchange-rules-in-relation-to-a-possible-quarterly-dividend-301731308.html

SOURCE Yum China Holdings, Inc.

FAQ

What is the date for Yum China to consider the quarterly dividend?

Yum China will consider the quarterly dividend on February 8, 2023.

What are the potential benefits of the declared dividend for YUMC shareholders?

A declared dividend would provide direct income for shareholders, enhancing investor confidence.

Is there a guarantee that Yum China will declare a dividend?

No, as of now, there is no assurance that the dividend will be declared.