WASHINGTON (dpa-AFX) - Yum! Brands, Inc. (YUM) said Wednesday that its Board of Directors approved an 11% increase in the company's quarterly dividend.
The quarterly cash dividend will increase from $0.37 to $0.41 per share and will be effective with the dividend payment to be distributed on November 7 to shareholders of record on October 17.
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 ten years. Over the long term, Yum! is now targeting a payout ratio of 40% to 45% of annual net income, before special items.
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