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Press release from Business Wire

Yum! Brands Inc. Announces Authorization of up to $1 Billion in Share Repurchases and Declares Quarterly Dividend of $0.335 Per Share

Friday, November 16, 2012

Yum! Brands Inc. Announces Authorization of up to $1 Billion in Share Repurchases and Declares Quarterly Dividend of $0.335 Per Share12:39 EST Friday, November 16, 2012 LOUISVILLE, Ky. (Business Wire) -- Yum! Brands Inc. (NYSE: YUM) Board of Directors authorized the Company to repurchase up to $1 billion in additional shares of common stock and declared a dividend of $0.335 per share of common stock. The quarterly dividend will be distributed February 1, 2013, to shareholders of record at the close of business on January 11, 2013. The $1 billion in additional share repurchases of the Company's outstanding common stock is authorized through May 31, 2014. Repurchases of common stock may be made from time to time in the open market or through privately negotiated transactions and will be subject to market conditions and other factors. Year-to-date, the Company has repurchased $815 million of shares of common stock at an average price of $66. Yum!'s first priority with the operating cash it generates is to invest in high-return global growth opportunities. In addition, Yum! is committed to returning significant cash to shareholders. Over the past five years, the Company has returned $5.7 billion of cash through the combination of share repurchases and dividends. 2012 INVESTOR & ANALYST CONFERENCE Yum! will host its 2012 Investor and Analyst Conference on December 6th in New York. Presentations will begin at 8:45 a.m. and will include the following presenters:   David C. Novak, Yum! Chairman and CEO         Weiwei Chen, Yum! China CFO Rick Carucci, Yum! President Micky Pant, Yum! Restaurants International CEO Pat Grismer, Yum! Chief Financial Officer Niren Chaudhary, Yum! India President Angela Loh, Yum! China Chief Concept Officer Greg Creed, Taco Bell CEO   This event will be webcast live and can be accessed through the Yum! Brands Investor Relations website at http://www.yum.com/investors. The webcast will be archived and available online for a 30-day period following the presentations. A pre-meeting press release with 2012 highlights and a preview of 2013 will be issued Thursday, November 29th. Yum! Brands, Inc., based in Louisville, Kentucky, is the world's largest restaurant company in terms of system restaurants with over 38,000 restaurants in more than 120 countries and territories. Yum! is ranked #213 on the Fortune 500 List and generated revenues of more than $12 billion in 2011. The Company's restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opened approximately four new restaurants each day of the year, making it a leader in international retail development. The Company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns. Yum! Brands Inc.Analysts are invited to contact:Tim Jerzyk, 888-298-6986Senior Vice President Investor RelationsorSteve Schmitt, 888-298-6986Senior Director Investor RelationsorMembers of the media are invited to contact:Amy Sherwood, 502-874-8200Vice President Public Relations