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SHANGHAI, China – Yum China Holdings, Inc. (the “Company” or “Yum China”) announced that it has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of approximately US$510 million for the second half of 2025, commencing on July 1, 2025.
This represents a 42% increase compared to the share repurchase agreements of US$360 million announced for the first half of 2025. Assuming a quarterly dividend of US$0.24 per share, the total capital return for 2025 will be at least US$1.2 billion.
“Yum China is committed to maintaining a dual focus: investing in driving business growth and returning excess capital to shareholders. This approach is supported by our healthy cash position and strong cash generation capabilities.
We remain on track to return US$3 billion to shareholders through dividends and share repurchases from 2025 to 2026, in addition to the US$1.5 billion delivered in 2024. The average annual amount over the three years is equivalent to approximately 9% of our current market cap,” said Joey Wat, CEO of Yum China.
The share repurchase agreements for the second half of 2025 include approximately US$410 million under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$790 million for a similar program in Hong Kong.
From 2017 to May 27, 2025, Yum China has returned US$4.8 billion to shareholders through dividends and share repurchases.
