Bloomberg News

Yum Announces Plan to Buy Back Up to $1 Billion in Shares

November 16, 2012

Yum! Brands Inc. (YUM:US), owner of the Taco Bell and KFC dining chains, will buy back as much as $1 billion in additional shares amid rising sales and profit this year.

The restaurant operator joins other consumer companies looking to reward shareholders. Procter & Gamble Co. (PG:US) and Starbucks Corp. (SBUX:US) increased stock buyback programs yesterday, while Nike Inc. (NKE:US) boosted its dividend by 17 percent. Louisville, Kentucky-based Yum has this year repurchased $815 million of common stock at an average price of $66 a share, according to a statement.

Yum rose 1.1 percent to $71.89 at the close in New York. The shares have gained 22 percent this year.

To contact the reporter on this story: Leslie Patton in Chicago at lpatton5@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net


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Companies Mentioned

  • YUM
    (Yum! Brands Inc)
    • $74.84 USD
    • 0.71
    • 0.95%
  • PG
    (Procter & Gamble Co/The)
    • $80.1 USD
    • -0.18
    • -0.22%
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