Board of Yum! Brands authorizes repurchase of up to additional US$750M of company's common stock
November 18, 2011
– The board of Yum! Brands Inc. has authorized the repurchase of up to an additional US$750 million of the company’s common stock, Dow Jones Newswires reported Nov. 18.
The move comes as the restaurant operator continues to return cash to shareholders through repurchases and dividends.
Yum! Said it would repurchase the shares through 2013. It had about $250 million remaining under its existing share-repurchase authorization as of Nov. 11. Back in January, the company also authorized a stock repurchase plan of up to an additional $750 million.
Yum reported in October that its fiscal third-quarter profit grew 7.3% as the company's Chinese market continued to post strong sales.
The primary source of this article is Dow Jones Newswires, New York, New York, on Nov. 18, 2011.