LOUISVILLE Ky. Yum! Brands Inc., parent company to Taco Bell, KFC, Pizza Hut and other brands, said Thursday its board had approved a two-for-one stock split to be paid in the form of a stock dividend, a move that is part of the company's effort to return $1.3 billion to shareholders this year.
The stock split entitles each shareholder of record at the close of business on June 1 to receive one additional share for every outstanding share held. It will be distributed on June 26, and Yum's stock will trade on a split-adjusted basis beginning on June 27.
The company also announced Thursday a 15-cent-per-share dividend, on a split-adjusted basis, to be distributed on August 3 to shareholders of record on July 13.
Yum said the moves show its "confidence in [the company's] continued strong performance."
The plan to return $1.3 billion to shareholders this year through buybacks and dividends will reduce the company's outstanding share count by at least 3 percent, the company said.
