Yum China To Buy Back $750 Mln Of Shares

(RTTNews) - Restaurant chain Yum China Holdings, Inc. (YUMC) on Thursday announced that it has entered into a share repurchase agreement in the US and Hong Kong to buy back $750 million worth of shares in 2024.

This is part of the capital allocation plan to return $3 billion to shareholders through dividends and share repurchases from 2024 to 2026 as per the company.

The repurchase agreements include around $600 million under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and around HK$1.2 billion in Hong Kong.

In pre-market activity, Yum China shares are trading at $45.90, up 0.13% on the New York Stock Exchange.