Yum! to buy back up to $1.25 billion of stock
January 24, 2008
by Jeff Gelski
LOUISVILLE, KY. — The board of directors at Yum! Brands Inc. has authorized the repurchase of up to an additional $1.25 billion of the company’s outstanding common stock, Yum! reported Jan. 24. The repurchases will take place for up to 12 months.
The authorization is part of an overall share-repurchase plan announced on Oct. 8, 2007. The overall plan involves Louisville-based Yum! buying back up to $4 billion of the company’s outstanding common stock over a two-year period. The board at that time authorized the repurchase of an initial $1.25 billion. As of Jan. 23, about $450 million remained under this October 2007 share-repurchase authorization.