YUMC - Yum China boosts share repurchase authorization by $1B
2023-11-02 07:45:58 ET
- Yum China ( NYSE: YUMC ) on Thursday said that it is raising its share repurchase authorization by $1B to an aggregate of $3.4B.
- This increase brings the total remaining authorization to ~$1.8B. The firm has bought back ~36M shares of common stock for $1.6B from 2017 to November 1, 2023.
- The authorization has no expiration date.
- "The Board's approval to expand our share repurchase program aligns with our capital allocation plan we articulated during our Investor Day in September —— to return $3 billion to shareholders through dividends and share repurchases from 2024 to 2026," CEO Joey Wat.
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Yum China boosts share repurchase authorization by $1B