Investors Salivate at Yum China Dividend, Improving Results - Caixin Global
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Investors Salivate at Yum China Dividend, Improving Results
Yum China, operator of the KFC and Pizza Hut fast-food chains in China, rolled out a regular dividend, nearly doubled the size of its share buyback program, and appointed a new CEO, amid signs that a nascent recovery at the company was starting to take hold.
The flurry of generally upbeat news sparked a rally for Yum China’s shares, with the stock rising nearly 3.1% in after-hours trade on Thursday in the U.S. (NYSE: YUMC). If the gains hold on Friday, they would send Yum China’s stock to an all-time high in the year since it was spun off from its former parent, KFC brand owner Yum Brands Inc.
Yum China’s flurry of announcements was included in its fiscal third-quarter report released after U.S. markets closed on Thursday. Those results saw the company’s same-store sales, a widely watched barometer tracking performance of existing individual restaurants, rise 6% for the three months through August.
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