Yum! Brands to complete a 2-for-1 stock split
May 17, 2007
by FoodBusinessNews.net Staff
LOUISVILLE, KY. — Yum! Brands Inc. has approved a 2-for-1 split of the company’s outstanding shares of common stock and a dividend of 30c per share of common stock on a pre-split basis.
The stock split will come in the form of a stock dividend that will allow each shareholder to receive an additional share for every outstanding share of common stock held on the record date of June 1. The dividend will be distributed on June 26, and the stock will begin trading on a split-adjusted basis on June 27.
A dividend of 30c per share also will go into effect. With the 2-for-1 split, every outstanding share of common stock will receive an additional share, so the actual dividend paid will be 15c for existing and new shares. The dividend will be given out on Aug. 3 to shareholders invested as of July 13. Any future dividends will be adjusted for the split as well.
In 2007, Yum! Brands plans to return $1.3 billion to shareholders, which will reduce the share count by at least 3% through buybacks and a dividend.