Yum China Expands Share Repurchase Authorization by $1 Billion
From 2017 to November 1, 2023, the Firm repurchased roughly 36 million shares of frequent inventory for $1.6 billion. This enhance brings the whole remaining authorization to roughly $1.8 billion.
“The Board’s approval to develop our share repurchase program aligns with our capital allocation plan we articulated throughout our Investor Day in September —— to return $3 billion to shareholders by way of dividends and share repurchases from 2024 to 2026. Over the previous three years, now we have fortified our resilience, strengthened our aggressive place, and laid the muse for future progress. With the current launch of our ‘RGM 2.0‘ technique, we’re assured in our capabilities to harness the huge progress alternatives China continues to supply,” stated Joey WhatCEO of Yum China. “Bolstered by our robust stability sheet and strong money movement producing capabilities, we’re well-positioned to successfully stability operational wants, make investments for long-term progress and return capital to shareholders.”
Yum China might repurchase shares below this authorization occasionally within the open market or, topic to relevant regulatory necessities, by way of privately negotiated transactions, block trades, accelerated share repurchase transactions and the usage of Rule 10b5-1 buying and selling plans. The authorization has no expiration date.
This press launch incorporates “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Trade Act of 1934, together with statements relating to the Firm’s enterprise technique and capital allocation technique. We intend all forward-looking statements to be coated by the protected harbor provisions of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements usually might be recognized by the truth that they don’t relate strictly to historic or present info and by means of forward-looking phrases akin to “objective,” “anticipate,” “expectation,” “consider,” “anticipate,” “might,” “might,” “intend,” “perception,” “plan,” “estimate,” “goal,” “predict,” “mission,” “possible,” “will,” “proceed,” “ought to” or comparable terminology. These statements are based mostly on present estimates and assumptions made by us in gentle of our expertise and notion of historic traits, present situations and anticipated future developments, in addition to different components that we consider are applicable and affordable below the circumstances, however there might be no assurance that such estimates and assumptions will show to be right. Ahead-looking statements embrace, with out limitation, statements relating to objective for shareholder return by way of dividends and share repurchases. Ahead-looking statements should not ensures of efficiency and are inherently topic to identified and unknown dangers and uncertainties which are tough to foretell and will trigger our precise outcomes or occasions to vary materially from these indicated by these statements. We can’t guarantee you that any of our expectations, estimates or assumptions can be achieved. The forward-looking statements included on this press launch are solely made as of the date of this press launch, and we disclaim any obligation to publicly replace any forward-looking assertion to mirror subsequent occasions or circumstances, besides as required by regulation. Quite a few components might trigger our precise outcomes or occasions to vary materially from these expressed or implied by forward- wanting statements. As well as, different dangers and uncertainties not presently identified to us or that we at present consider to be immaterial might have an effect on the accuracy of any such forward-looking statements. All forward-looking statements needs to be evaluated with the understanding of their inherent uncertainty. It is best to seek the advice of our filings with the SEC (together with the knowledge set forth below the captions “Danger Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” in our Annual Report on Type 10-Ok and subsequent Quarterly Studies on Type 10-Q) for added element about components that might have an effect on our monetary and different outcomes.
About Yum China Holdings, Inc.
Yum China is the most important restaurant firm in China with a mission to make each life style stunning. The Firm has over 400,000 workers and operates over 14,000 eating places below six manufacturers throughout 1,900 cities in China. KFC and Pizza Hut are the main manufacturers within the quick-service and informal eating restaurant areas in Chinarespectively. Taco Bell provides progressive Mexican-inspired meals. Yum China has additionally partnered with Lavazza to develop the Lavazza espresso idea in China. Little Sheep and Huang Ji Huang concentrate on Chinese language delicacies. Yum China has a world-class, digitalized provide chain which incorporates an in depth community of logistics facilities nationwide and an in-house provide chain administration system. Its robust digital capabilities and loyalty program allow the Firm to succeed in clients quicker and serve them higher. Yum China is a Fortune 500 firm with the imaginative and prescient to be the world’s most progressive pioneer within the restaurant trade. For extra data, please go to http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.