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Yum! quarterly dividend increases 27%
May 5, 2008
LOUISVILLE, Ky. — Yum! Brands Inc. has announced that its board of directors approved a 27 percent increase in the company's quarterly cash dividend from 15 cents to 19 cents per share. The higher cash dividend payment will be distributed Aug. 1, 2008, in the company's fiscal third quarter, to shareholders of record at the close of business July 11.
"By raising the quarterly cash dividend to 19 cents per share, we have nearly quadrupled our dividend since we initiated it just four years ago," said David C. Novak, Yum! Brands chairman and chief executive officer. "The increase in our quarterly dividend demonstrates we can simultaneously pay a meaningful quarterly dividend and execute significant share buybacks to increase shareholder value."
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