Yum! Brands: quarterly dividend up 18%

Louisville / KY. (yb) Yum! Brands Inc. announced that its Board of Directors approved an 18 percent increase in the Company´s quarterly dividend. The quarterly cash dividend will increase from 0,285 USD to 0,335 USD per share and will be effective with the dividend payment to be distributed on November 02, 2012 to shareholders of record at the close of business on October 12, 2012. This increase raises the annual dividend rate to 1,34 USD a share. David C. Novak, Chairman and Chief Executive Officer: «I am pleased to inform our shareholders we increased our dividend by 18 percent, marking the eighth consecutive year we have raised our dividend at a double-digit percentage rate. Our quarterly dividend has more than doubled over the last five years». «Our first priority with the operating cash we generate is to invest in high-return global growth opportunities. In addition to investing in future growth, Yum!´s consistent performance and substantial free cash flow generation allows us to return significant cash to our shareholders through a meaningful quarterly dividend and share buybacks». Yum! initiated its dividend in 2004 and is in a select group of companies from the S+P 500 to increase its dividend at a double-digit percentage rate each of the past eight years. Yum! continues to target a payout ratio of 35 to 40 percent of annual net income before special items.