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

Rhea-AI Summary

Yum China Holdings is set to consider declaring a quarterly dividend at a board meeting on or around May 3, 2023. This action aligns with the HKEX regulations requiring advance notice for dividend considerations. There is, however, no guarantee that the dividend will be declared, pending the board's decision. Yum China, the largest restaurant company in China, operates nearly 13,000 restaurants and employs over 400,000 individuals. The company aims to enhance shareholder value through potential dividend payments. Investors should watch for updates following the board meeting, as timely communication is key to understanding any financial implications.

Positive

• Potential quarterly dividend to be considered by the board, signaling strong cash flow management.

Negative

• No assurance that the dividend will be declared, indicating potential uncertainty in cash distribution.

SHANGHAI, April 19, 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 May 3, 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 is the largest restaurant company in China with a mission to make every life taste beautiful. The Company has over 400,000 employees and operates nearly 13,000 restaurants under six brands across 1,800 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. Taco Bell offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Yum China has a world-class, digitalized supply chain which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. 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 

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SOURCE Yum China Holdings, Inc.

FAQ

When will Yum China consider declaring its quarterly dividend?

Yum China will consider declaring its quarterly dividend on or around May 3, 2023.

What is the significance of Yum China's board meeting regarding dividends?

The board meeting is significant as it will determine whether a quarterly dividend will be declared, impacting shareholder returns.

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

There is no guarantee that Yum China will declare a dividend, as the decision is contingent on the board's resolution.

How many restaurants does Yum China operate?

Yum China operates nearly 13,000 restaurants across China.

What are the possible financial implications for Yum China shareholders?

The potential declaration of a dividend could indicate strong cash flow and financial health, benefiting shareholders.