Yum! Brands hikes quarterly dividend 27%
May 06, 2008
by Bryan Salvage
The board of directors of Yum! Brands Inc., the world’s largest restaurant company with more than 35,000 systems restaurants, has approved a 27% increase in the company’s quarterly cash dividend from 15c to 19c per share, which will be distributed Aug. 1 in the company’s fiscal third quarter, to shareholders of record at the close of business on July 11.
"By raising the quarterly cash dividend to 19c per share, we have nearly quadrupled our dividend since we initiated it just four years ago (in May 2004)," said David C. Novak, chairman and chief executive officer.
The company said four of its restaurant brands — KFC, Pizza Hut, Taco Bell and Long John Silver’s — are the global leaders of the chicken, pizza, Mexican-style food and quick-service seafood categories, respectively.