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Yum! Brands Inc (YUM)

YUM on New York Consolidated

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Yum! Brands declares quarterly dividend of $0.30 per share
Friday, 24 Mar 2017 04:15pm EDT 

Yum! Brands Inc : Yum! Brands, Inc. declares quarterly dividend of $0.30 per share .Yum Brands - Over long term, Yum! targets a payout ratio of 45%-50% of annual net income, before special items.  Full Article

Yum! Brands says Pizza Hut Holdings, KFC Holding, Taco Bell Of America enters refinancing amendment to credit agreement
Thursday, 23 Mar 2017 04:36pm EDT 

Yum! Brands Inc - : On March 21, Pizza Hut Holdings, LLC, KFC Holding Co, Taco Bell of America, LLC entered refinancing amendment to credit agreement . Pursuant to agreement company repriced its existing approximately $2.0 billion term loan B facility - SEC filing . Amendment reduces interest rate applicable to term B loan by 0.75% to adjusted LIBOR plus 2.00% .Maturity date for term B loan remains June 16, 2023.  Full Article

Collins Foods says unit acquires 16 KFC restaurants in Netherlands
Wednesday, 22 Mar 2017 06:22pm EDT 

Collins Foods Ltd : Acquisition of KFC restaurants in the Netherlands . Unit has entered into a binding agreement to acquire 16 KFC restaurants located in Netherlands from subsidiaries of Yum! Brands . Deal for consideration of EUR 62.3 million . Acquisition and associated equity raising costs will be funded via a fully underwritten A$54.5 million placement . Mark Van 't Loo has been appointed as CEO Europe . Acquisition is expected to be mid single digit EPS accretive for Collins Foods shareholders in first full financial year of ownership . For period ending 30 sept 2016, Netherlands acquisition generated revenue of EUR 46.6 million and EBITDA of EUR 7.3 million on a pro forma basis .Development agreement was entered into with unit of Yum! for roll-out of more than 20 new KFC Restaurants by Collins Foods in Netherlands by 31 Dec 2021.  Full Article

Kevin Hochman promoted to chief concept officer of KFC U.S.
Tuesday, 21 Mar 2017 09:15am EDT 

Yum! Brands Inc : Kevin Hochman promoted to president and chief concept officer of KFC U.S. .Yum Brands-promoted Kevin Hochman to president and chief concept officer of KFC U.S., reporting to Roger Eaton, chief executive officer of KFC Global.  Full Article

Restaurant Brands New Zealand completes acquisition of Pacific Island Restaurants; announces new company structure
Tuesday, 7 Mar 2017 03:41pm EST 

Restaurant Brands New Zealand Ltd : Board has approved a change in company's structure with effect from 1 March 2017 . Says has completed acquisition of Pacific Island Restaurants . Ian Letele has been appointed country CEO of New Zealand division . Ian letele will be supported by herman pretorius as NZ CFO . Co will comprise and report to shareholders on basis of three geographically separate operating divisions . Hawaiian operations will have Kevin Kurihara as country CEO and Brent Matsumoto as CFO .Australian business will continue to be headed up by Adrian Holness as country CEO and Ashley Jones as CFO.  Full Article

Restaurant Brands New Zealand says YUM! approves Pacific Island Restaurants acquisition
Thursday, 2 Mar 2017 05:19pm EST 

Restaurant Brands New Zealand Ltd - : YUM! approves acquisition of Pacific Island Restaurants Inc . Received approval from YUM! (subject to payment of all fees on settlement) to proceed with transaction . Settlement is expected to occur within next two weeks. . "NPAT (excluding non-trading) will be at lower end of previously announced $30-32 million guidance" ."Delay in settlement means that there was no contribution from Hawaiian Operations in FY ended 27 February 2017".  Full Article

Yum Brands reports changes to board of directors
Thursday, 16 Feb 2017 05:44pm EST 

Yum! Brands Inc : Yum! Brands announces changes to board of directors .Yum Brands - Keith A. Meister, managing partner of Corvex Management Lp, has elected to step down from its board of directors.  Full Article

Third Point cuts share stake in Facebook, dissolves share stake in Yum Brands
Friday, 10 Feb 2017 04:44pm EST 

Third Point LLC : dissolves share stake in Yum Brands Inc - SEC filing . takes share stake of 3.0 million shares in Time Warner Inc - sec filing . cuts share stake in Facebook Inc by 35.8 percent to 3.5 million class A shares . ups share stake in Constellation Brands Inc by 36.4 percent to 3.0 million class a shares - SEC filing . takes share stake of 400,000 shares in Goldman Sachs Group Inc - SEC filing .change in holdings are as of Dec 31, 2016 and compared with the previous quarter ended as of Sept 30, 2016.  Full Article

Yum! Brands posts Q4 adj. earnings $0.79/shr from continuing operations
Thursday, 9 Feb 2017 07:00am EST 

Yum! Brands Inc : Yum! Brands reports fourth-quarter GAAP operating profit growth of 14 pct; delivers fourth-quarter core operating profit growth of 27 pct; on track with strategic transformation to accelerate growth . Q4 earnings per share $0.79 from continuing operations excluding items . Q4 GAAP earnings per share $0.76 from continuing operations . Q4 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Qtrly total revenues $2,024 million versus $1,976 million . Q4 worldwide system sales grew 8 percent . Says as of December 31, 2016, there was $1.9 billion remaining in share repurchase authorization through year end 2017 . Yum Brands - "KFC and Taco Bell had relatively strong performance in December, despite difficult U.S. industry conditions" . Yum Brands - there is no change to long-term guidance . Yum Brands says "we are confident in our three-year plans" .Q4 revenue view $2.09 billion -- Thomson Reuters I/B/E/S.  Full Article

Yum Brands says board approves change in fiscal year
Tuesday, 31 Jan 2017 04:38pm EST 

Yum! Brands Inc : Yum Brands- on jan 27, board approved change in fiscal year to year beginning on jan 1 and ending dec 31 of each year - sec filing . Yum Brands says to move from 52-week periodic fiscal calendar with three 12-week interim quarters and a 16-week fourth quarter . Yum Brands says transition requires adding 53rd week every five or six yrs, to monthly reporting calendar with each quarter comprised of three months . Yum brands - co's u.s. Subsidiaries to continue reporting under 52-week fiscal calendars ending in late dec . Yum! brands - change in co’s fiscal year was made to accommodate removal of reporting lags from international subsidiary fiscal calendars . Yum Brands - change to co’s fiscal year is effective in 2017 and does not impact the company’s results for the fiscal year ended december 31, 2016 .Yum Brands - however, co will restate previously issued financial statements when presenting financial statements under new calendar in 2017.  Full Article

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