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Benzinga
Benzinga
Business
Shivani Kumaresan

Yum China Boosts Stock Buyback Program

Yum China YUMC Joey Wat NYSE
  • Yum China Holdings Inc (NYSE:YUMC) Board of Directors has increased the company's share repurchase authorization by $1 billion to about $2.4 billion.
  • The increase brings the total remaining authorization to approximately $1.4 billion. The company repurchased about 24 million shares of common stock for $971 million from 2017 to March 16, 2022.
  • "From 2017 to 2021, we generated operating cash flow of $5.6 billion and free cash flow of $3.2 billion," said CEO Joey Wat.
  • Yum China held ~ $4 billion in cash and equivalents as of December 31, 2021.
  • Price Action: YUMC shares are trading lower by 0.67% at $43.03 in premarket on the last check Thursday.
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