YUM · 10-Q · 2026Q2 · Full report
Capital Return Program
YUM BRANDS INC · 2026-08-05 · Importance 71 · Surprise 60 · No source text
YUM repurchased 4.345 million shares for $2,296 million during the six months ended June 30, 2026. The May 2024 authorization had $0.4 billion of remaining capacity at June 30, 2026 and remained available through December 31, 2026. In June 2026, the Board authorized an additional $4.0 billion share-repurchase program beginning after the earlier exhaustion or expiration of the May 2024 authorization and running through June 30, 2028. Dividends declared increased to $1.50 per common share year to date from $1.42 per share in the prior-year period.
Key facts
- In June 2026, the Board authorized incremental share repurchases of up to $4 billion through June 30, 2028. source
- Shares repurchased year to date (thousands): 4,345 and Dollar value of shares repurchased: $2,296 million source
- As of June 30, 2026 YUM has remaining capacity to repurchase up to $0.4 billion of Common Stock under the May 2024 authorization source
- Net cash used in financing activities was $757 million in 2026 versus $741 million in 2025. source
- With anticipated net proceeds from the Pizza Hut transactions, the company expects to pay down current drawings on the Revolving Facility and set aside the majority of the remainder for share repurchases. source
- Dividends declared per common share quarter ended 6/30/2026: $0.75; quarter ended 6/30/2025: $0.71; year to date 6/30/2026: $1.50; year to date 6/30/2025: $1.42 source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -39.2% | In June 2026, the Board authorized incremental share repurchases of up to $4 billion through June 30, 2028. |
| cash | negative | realized | -26.4% | Shares repurchased year to date (thousands): 4,345 and Dollar value of shares repurchased: $2,296 million |
| cash | negative | committed | -2.0% | As of June 30, 2026 YUM has remaining capacity to repurchase up to $0.4 billion of Common Stock under the May 2024 authorization |
| cash | negative | realized | -0.2% | Net cash used in financing activities was $757 million in 2026 versus $741 million in 2025. |
| liability | positive | probable | — | With anticipated net proceeds from the Pizza Hut transactions, the company expects to pay down current drawings on the Revolving Facility… |
| cash | negative | probable | — | With anticipated net proceeds from the Pizza Hut transactions, the company expects to pay down current drawings on the Revolving Facility… |