SHANGHAI, China – Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987) today announced that it has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of US$750 million in 2024, as part of the capital allocation plan to return US$3 billion to shareholders through dividends and share repurchases from 2024 to 2026.
The share repurchase agreements include approximately US$600 million under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$1.2 billion for a similar program in Hong Kong.
The Company obtained a waiver from the Hong Kong Stock Exchange, in order to allow its shareholders, regardless of the exchange on which the shares they hold are traded, equal access to the repurchase programs.
The share repurchase agreements were entered into under the share repurchase authorization from the board of directors of the Company announced on November 2, 2023.
“The share repurchases programs in the U.S. and Hong Kong along with dividend payouts demonstrate our strong commitment to returning capital to our shareholders.
We continue to focus on executing our RGM 2.0 strategic framework, aiming to drive growth, boost profitability and deliver shareholder value.” said Joey Wat, CEO of Yum China.