Yum!: Announces Share Repurchases up to 750 Million USD

Louisville / KY. (yb) Yum! Brands Inc. Board of Directors authorized the Company to repurchase up to 750 million USD in additional shares of common stock and declared a dividend of 0.37 USD per share of common stock. The quarterly dividend will be distributed February 07, 2014, to shareholders of record at the close of business on January 17, 2014. Since initiating a dividend in 2004, Yum! has increased its dividend at a double-digit percentage rate each of the past nine years, placing Yum! in a select group of companies from the S+P 500 to do so. The 750 million USD in additional share repurchases of the Company´s outstanding common stock is authorized through May 31, 2015. 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 708 million USD of shares of common stock at an average price of 68 USD. 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. The Company has returned 5,8 billion USD of cash through the combination of share repurchases and dividends over the past five fiscal years. Yum! Brands Inc., based in Louisville, Kentucky, has over 40’000 restaurants in more than 130 countries and territories.

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