Yum! Brands Announces Authorization for $300 Million Share Repurchases
September 30, 2009 – Yum! Brands Inc. today announced that it has authorised $300 Million share repurchase program.David C. Novak, Chairman and Chief Executive Officer, said, “I am pleased to inform our shareholders that we are increasing our dividend by 11% and will resume repurchasing our shares. Yum’s global growth potential, consistent performance and track record of generating strong free cash flow give us the confidence and ability to return significant cash to our shareholders even in these challenging economic times. Our dividend program has returned over $1 billion to shareholders since inception in 2004 and this marks the fifth annual increase. Through share repurchases, we have returned over $6 billion in ten years. These results and today’s announcements demonstrate our continued commitment to being an industry leader in shareholder payouts.”
