Declared Dividend • May 17
First quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 27th May 2026 Payment date: 12th June 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 14
Yum! Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 12, 2026 Yum! Brands, Inc. Board of Directors declared a dividend of $0.75 per share of common stock. The quarterly cash dividend will be distributed June 12, 2026, to shareholders of record at the close of business on May 27, 2026. Reported Earnings • May 04
First quarter 2026 earnings released: EPS: US$1.56 (vs US$0.90 in 1Q 2025) First quarter 2026 results: EPS: US$1.56 (up from US$0.90 in 1Q 2025). Revenue: US$2.06b (up 15% from 1Q 2025). Net income: US$432.0m (up 71% from 1Q 2025). Profit margin: 21% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Duyuru • Apr 16
Yum! Brands, Inc. to Report Q1, 2026 Results on Apr 29, 2026 Yum! Brands, Inc. announced that they will report Q1, 2026 results at 7:00 AM, Eastern Standard Time on Apr 29, 2026 Duyuru • Apr 07
Yum! Brands, Inc., Annual General Meeting, May 14, 2026 Yum! Brands, Inc., Annual General Meeting, May 14, 2026. Duyuru • Apr 01
Yum! Brands, Inc. Appoints Kathleen (Leeny) K. Oberg to its Board of Directors, Effective April 1, 2026 Yum! Brands, Inc. announced the appointment of Kathleen (Leeny) K. Oberg, former Chief Financial Officer and Executive Vice President, Development of Marriott International, Inc., to its Board of Directors, effective April 1, 2026. Ms. Oberg served as Marriott International, Inc.’s Chief Financial Officer from 2016 until 2026 and Executive Vice President, Development of Marriott from 2023 until 2026. Previously, Ms. Oberg was the Chief Financial Officer for The Ritz-Carlton from 2013-2015, where she contributed significantly to the brand’s performance, growth and organizational effectiveness. Prior to that role, Ms. Oberg served in a range of financial leadership positions with Marriott, including Senior Vice President, Corporate and Development Finance and Senior Vice President, International Project Finance and Asset Management for Europe, the Middle East and Africa. Ms. Oberg first joined Marriott as part of its Investor Relations group in 1999. Prior to that, she held a variety of financial leadership positions with Sodexo (previously Sodexo Marriott Services), Sallie Mae, Goldman Sachs and Chase Manhattan Bank. Ms. Oberg was previously a member of the American Hotel and Lodging Association's IREFAC Council. She currently serves on the Board of Directors of Adobe, Inc. She earned a bachelor’s degree in commerce with concentrations in finance and management information systems from the University of Virginia’s McIntire School of Commerce, and she received an MBA from Stanford University’s Graduate School of Business. Reported Earnings • Feb 22
Full year 2025 earnings released: EPS: US$5.59 (vs US$5.27 in FY 2024) Full year 2025 results: EPS: US$5.59 (up from US$5.27 in FY 2024). Revenue: US$8.21b (up 8.8% from FY 2024). Net income: US$1.56b (up 4.9% from FY 2024). Profit margin: 19% (in line with FY 2024). Same store sales growth: 3.0% vs FY 2024 Total stores: 63,285 (up by 1,939 from FY 2024). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Recent Insider Transactions • Feb 19
COO and Chief People & Culture Officer recently sold Mex$23m worth of stock On the 17th of February, Tracy Skeans sold around 8k shares on-market at roughly Mex$2,754 per share. This transaction amounted to 61% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$34m. This was Tracy's only on-market trade for the last 12 months. Duyuru • Feb 13
Yum! Brands, Inc. Announces Resignation of Keith Barr from the Board, Effective February 10, 2026 On February 10, 2026, Keith Barr, a member of the Board of Directors of Yum! Brands, Inc. informed the Company that he will resign from the Board effective February 10, 2026. Mr. Barr’s resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies, or practices, and it coincides with his recent appointment to a leadership position outside of YUM. Recent Insider Transactions • Feb 07
Insider recently sold Mex$34m worth of stock On the 5th of February, Aaron Powell sold around 12k shares on-market at roughly Mex$2,806 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$162m more than they bought in the last 12 months. Reported Earnings • Feb 06
Full year 2025 earnings released: EPS: US$5.59 (vs US$5.27 in FY 2024) Full year 2025 results: EPS: US$5.59 (up from US$5.27 in FY 2024). Revenue: US$8.21b (up 8.8% from FY 2024). Net income: US$1.56b (up 4.9% from FY 2024). Profit margin: 19% (in line with FY 2024). Same store sales growth: 3.0% vs FY 2024 Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Duyuru • Feb 04
Yum! Brands, Inc. Increases Dividend, Payable on March 6, 2026 The Board of Directors of Yum! Brands, Inc. approved a dividend of $0.75 per share of common stock, an increase of 6%. The quarterly dividend will be distributed March 6, 2026 to shareholders of record at the close of business on February 20, 2026. Declared Dividend • Nov 24
Third quarter dividend of US$0.71 announced Shareholders will receive a dividend of US$0.71. Ex-date: 2nd December 2025 Payment date: 12th December 2025 Dividend yield will be 1.5%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 5.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Nov 21
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on December 12, 2025 Yum! Brands, Inc. Board of Directors declared a dividend of $0.71 per share of common stock. The quarterly cash dividend will be distributed December 12, 2025, to shareholders of record at the close of business on December 2, 2025. New Risk • Sep 16
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shares are highly illiquid. Negative equity (-US$7.7b). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Aug 28
Yum! Brands, Inc. Appoints Chris Turner as Director of the Board, Effective October 1, 2025 Yum! Brands, Inc. announced that Chris Turner, who will become Chief Executive Officer of the Company on October 1, 2025, was appointed as a Director of the Board, also effective October 1, 2025. Turner was appointed to become Yum! Brand’s next Chief Executive Officer on June 13, effective October 1, 2025, succeeding David Gibbs, who, in March 2025, informed the Board of Directors of his intention to retire after 36 years with the Company and a successful tenure as CEO. Turner has served as Yum! Brands' Chief Financial Officer since 2019 and expanded his role to include Chief Franchise Officer in 2024, with responsibilities for finance, corporate strategy, supply chain, franchise standards and support. Also, effective October 1, 2025, Gibbs will no longer be a Director of the Board but will remain as an executive advisor to the Company through 2026. Duyuru • Aug 22
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on September 12, 2025 Yum! Brands, Inc. Board of Directors declared a dividend of $0.71 per share of common stock. The quarterly cash dividend will be distributed September 12, 2025, to shareholders of record at the close of business on September 2, 2025. Reported Earnings • Aug 07
Second quarter 2025 earnings released: EPS: US$1.34 (vs US$1.30 in 2Q 2024) Second quarter 2025 results: EPS: US$1.34 (up from US$1.30 in 2Q 2024). Revenue: US$1.93b (up 9.6% from 2Q 2024). Net income: US$374.0m (up 1.9% from 2Q 2024). Profit margin: 19% (down from 21% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Duyuru • Jul 07
Yum! Brands Reportedly in Talks to Facilitate Devyani, Sapphire Merger Yum! Brands, Inc. (NYSE:YUM), the American owner of fast-food restaurant chains KFC and Pizza Hut, is in talks to facilitate a merger of Devyani International Limited (NSEI:DEVYANI) and Sapphire Foods India Limited (NSEI:SAPPHIRE)—its publicly-traded franchisee partners in the country, people aware of the developments said. The negotiations could result in Sapphire Foods getting absorbed by DIL through a share swap deal. This would entail the latter either acquiring the franchisee rights of KFC and Pizza Hut from Sapphire Foods, or all of KFC’s franchisee stores in India getting consolidated under DIL, the people cited above said. One of the persons cited above said a 1:3 share swap ratio is being prepared with Sapphire shareholders getting one share of DIL for every three owned. This plan could not be independently verified. "There are direct synergies for DIL, since it is owned by PepsiCo’s bottling partner Varun Beverages Ltd. (VBL),” a second person said. Duyuru • Jun 17
Yum! Brands, Inc. Announces CEO Changes, Effective October 1, 2025 Yum! Brands, Inc. announced that its Board of Directors has unanimously elected Chris Turner, 50, as Chief Executive Officer, effective October 1, 2025. Turner, who currently serves as Chief Financial & Franchise Officer for Yum! Brands, will succeed current Chief Executive Officer David Gibbs, who, in March 2025, informed the Board of Directors of his intention to retire in the next year after 37 years with the Company and a successful tenure as CEO. Turner has served as Yum! Brands' Chief Financial Officer since 2019 and expanded his role to include Chief Franchise Officer in 2024, with responsibilities for finance, corporate strategy, supply chain, franchise standards and support. In recent years, he has been instrumental in driving bold actions that leverage Yum!’s scale, such as accelerating the Company’s digital and technology transformation through initiatives like the establishment of Byte by Yum!, an AI-driven restaurant technology platform; launching a centralized, global Supply Chain Center of Excellence; and the creation of Saucy by KFC, a bold new restaurant concept. He has worked closely with Gibbs and the entire Yum! Brands leadership team to drive growth through unit development, deliver strong shareholder returns and foster a people-first culture of collaboration. Gibbs has served as Yum! Brands’ CEO since January 2020. As CEO, Gibbs was instrumental in architecting and leading the Company’s digital transformation and tripled the pace of Yum! Brands’ annual net new unit development, leading to nearly 61,000 restaurant units worldwide. Gibbs also successfully navigated the Company through the COVID-19 pandemic and an increasingly complex operating environment, making Yum! a top performer in the restaurant industry. During Gibbs’ tenure, digital sales surpassed $30 billion in 2024, with over 50% of sales through digital channels. Gibbs remains CEO until September 30, 2025, and will serve as an adviser to the Company until the end of 2026 to ensure a seamless transition. Before joining the Company, Mr. Turner served as Senior Vice President and General Manager of PepsiCo’s retail and e-commerce business covering Walmart in the U. S. and more than 25 countries from December 2017 to July 2019. Duyuru • May 16
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on June 6, 2025 Yum! Brands, Inc.'s Board of Directors declared a dividend of $0.71 per share of common stock. The quarterly cash dividend will be distributed June 6, 2025, to shareholders of record at the close of business on May 27, 2025. Duyuru • Mar 31
Yum! Brands, Inc. Announces That Avid Gibbs, Chief Executive Officer to Retire in 2026 Yum! Brands, Inc. announced that David Gibbs, Chief Executive Officer, has informed the Board of Directors of his intention to retire from the Company in the next year. The Board has established a succession planning committee and will work deliberately to identify and appoint the best candidate to lead the company’s next chapter. Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026. Gibbs has served as Yum! Brands’ CEO since January 2020. As CEO, Gibbs focused on leading the company’s digital transformation, building the Company’s development engine and delivering strong shareholder returns powered by a people-first culture of collaboration. Simultaneously, Gibbs also successfully navigated the Company through the COVID-19 pandemic and an increasingly complex operating environment, making the Company a top performer in the restaurant industry. During Gibbs’ tenure, digital sales surpassed $30 billion in 2024 with over 50% of sales through digital channels and the pace of annual net new unit development tripled, leading to more than 61,000 restaurant units worldwide. Duyuru • Mar 12
Pizza Hut Introduces Pizza Charcuterie Board Pizza Hut is taking charcuterie to the next level just in time for Pi Day (3.14). Introducing Pizza Charcuterie, a customizable, Instagram-worthy pizza board designed for the ultimate social gathering. Whether hosting a Pi Day celebration, a watch party, or just looking for an easy (but impressive) way to elevate get-together, Pizza Hut's new Pizza Charcuterie is the ultimate crowd-pleaser. Think of it as a build-your-own experience that's as fun to design as it is to devour. For $24.99, pizza lovers can design their own savory board with: Any 2 Medium Pizzas: Pick your faves, from classic Hand Tossed to bold flavors like Chicago Tavern-Style Pizza. Any 8 Boneless Wings: Because every great spread needs something crispy, saucy and shareable. Any Sticks and Dips: Sticks and a variety of savory dips to take your board to the next level. To help launch the Pizza Charcuterie, Pizza Hut teamed up with Robert Gronkowski, former football tight end and pizza lover. Known for his oversized appetite and even bigger personality, Gronk is the first to design his own Pizza Charcuterie board that pizza fans can watch for inspiration here. Recent Insider Transactions • Mar 06
Insider recently sold Mex$16m worth of stock On the 5th of March, David Russell sold around 5k shares on-market at roughly Mex$3,238 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$84m more than they bought in the last 12 months. Reported Earnings • Feb 24
Full year 2024 earnings released: EPS: US$5.27 (vs US$5.68 in FY 2023) Full year 2024 results: EPS: US$5.27 (down from US$5.68 in FY 2023). Revenue: US$7.55b (up 6.7% from FY 2023). Net income: US$1.49b (down 7.0% from FY 2023). Profit margin: 20% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Same store sales growth: Down 1.0% vs FY 2023 Total stores: 61,346 (up by 2,638 from FY 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Duyuru • Feb 21
Yum! Brands, Inc., Annual General Meeting, May 15, 2025 Yum! Brands, Inc., Annual General Meeting, May 15, 2025. Duyuru • Jan 14
Yum! Brands, Inc. Announces the Promotion of Scott Mezvinsky, 49, to KFC Division Chief Executive Officer, Effective March 1, 2025 Yum! Brands, Inc. announced the promotion of Scott Mezvinsky, 49, to KFC Division Chief Executive Officer, effective March 1, 2025. Mezvinsky, a 20-year veteran of the Company who currently serves as President of Taco Bell North America and International, will succeed Sabir Sami, who is stepping down as KFC CEO at the end of February 2025. Mezvinsky will assume global responsibility for driving the brand strategy and performance of KFC. Prior to his most recent role, Mezvinsky was Taco Bell’s Global Chief Strategy & Financial Officer, leading the finance, development and strategy functions to help reach the Company’s goal of becoming a $20 billion brand. Since joining Yum! Brands in 2004, Mezvinsky held various roles at KFC and Yum!, including General Manager (GM) of KFC Iberia, where he helped turn the market into one of KFC’s leaders, achieving record same store sales growth, net new unit growth and ops metrics in 2018 and 2019. He also held roles in the KFC Latin America and Caribbean market, including Chief Development Officer and VP, Development and Operations. Mezvinsky received his BBA in Accounting from Southern Methodist University and MBA from the University of Chicago Booth School of Business. Sabir Sami has been CEO of the KFC Division since January 2022 and has held executive positions with Yum! Brands since 2009, including KFC Division Chief Operating Officer and Managing Director of KFC Asia, Managing Director for the KFC Middle East, North Africa, Pakistan and Turkey markets, and GM of Yum! Canada and GM of the KFC Canada and Turkey businesses. Sami remains KFC Division CEO through the end of February 2025, to ensure a smooth and seamless transition. Duyuru • Nov 22
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on December 13, 2024 Yum! Brands, Inc.'s Board of Directors declared a dividend of $0.67 per share of common stock. The quarterly dividend will be distributed December 13, 2024 to shareholders of record at the close of business on December 2, 2024. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: US$1.36 (vs US$1.48 in 3Q 2023) Third quarter 2024 results: EPS: US$1.36 (down from US$1.48 in 3Q 2023). Revenue: US$1.83b (up 6.9% from 3Q 2023). Net income: US$382.0m (down 8.2% from 3Q 2023). Profit margin: 21% (down from 24% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in Mexico. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Buy Or Sell Opportunity • Sep 24
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at Mex$2,581. The fair value is estimated to be Mex$2,124, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 4.1%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 8.1% per annum over the same time period. Declared Dividend • Aug 20
Second quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 27th August 2024 Payment date: 6th September 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 16
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on September 6, 2024 Yum! Brands, Inc. Board of Directors declared a dividend of $0.67 per share of common stock. The quarterly dividend will be distributed September 6, 2024 to shareholders of record at the close of business on August 27, 2024. Recent Insider Transactions • Aug 10
Chief Executive Officer of KFC Division recently sold Mex$24m worth of stock On the 7th of August, Sabir Sami sold around 9k shares on-market at roughly Mex$2,624 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$74m more than they bought in the last 12 months. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$1.30 (vs US$1.49 in 2Q 2023) Second quarter 2024 results: EPS: US$1.30 (down from US$1.49 in 2Q 2023). Revenue: US$1.76b (up 4.5% from 2Q 2023). Net income: US$367.0m (down 12% from 2Q 2023). Profit margin: 21% (down from 25% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has fallen by 1% per year. New Risk • Jul 02
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Shares are highly illiquid. Negative equity (-US$7.8b). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (Mex$29m sold). Buy Or Sell Opportunity • Jun 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.8% to Mex$2,530. The fair value is estimated to be Mex$2,090, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 6.3%. For the next 3 years, revenue is forecast to grow by 7.4% per annum. Earnings are also forecast to grow by 7.4% per annum over the same time period. Duyuru • May 17
Yum! Brands, Inc. (NYSE:YUM) announces an Equity Buyback for $2,000 million worth of its shares. Yum! Brands, Inc. (NYSE:YUM) announces a share repurchase program. Under the program, the company will repurchase up to $2,000 million worth of its shares. The program will run through December 31, 2026. Duyuru • May 16
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on June 7, 2024 The Board of Directors of Yum! Brands, Inc. declared a dividend of $0.67 per share of common stock. The quarterly dividend will be distributed June 7, 2024 to shareholders of record at the close of business on May 28, 2024. Duyuru • Apr 07
Yum! Brands, Inc., Annual General Meeting, May 16, 2024 Yum! Brands, Inc., Annual General Meeting, May 16, 2024, at 09:00 Central Standard Time. Location: 7100 Corporate Drive in Plano, Texas Plano United States Agenda: To consider Election of Directors Ratification of Independent Auditors Advisory Vote on Executive Compensation Shareholder Proposal Regarding Adoption of a Policy on the Use of Medically Important Antimicrobials in Food-Producing Animals Shareholder Proposal Regarding a Strategic Review of Proposed Capital Transactions Involving the Brands. Upcoming Dividend • Feb 14
Upcoming dividend of US$0.67 per share at 2.0% yield Eligible shareholders must have bought the stock before 20 February 2024. Payment date: 08 March 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Mexican dividend payers (6.4%). Lower than average of industry peers (5.1%). Declared Dividend • Feb 10
Fourth quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 20th February 2024 Payment date: 8th March 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jan 25
Yum! Brands, Inc. Announces Increase in Quarterly Dividend, Payable on March 8, 2024 The Board of Directors of Yum! Brands, Inc. approved an 11% increase in the company’s quarterly dividend. The quarterly cash dividend will increase from $0.605 to $0.67 per share of common stock and be distributed March 8, 2024 to shareholders of record at the close of business on February 21, 2024. Duyuru • Jan 11
Yum! Brands, Inc. Promotes Joe Park Its Chief Digital & Technology Officer Effective March 1, 2024 Yum! Brands, Inc. announced the promotion of Joe Park to Chief Digital & Technology Officer, reporting to Chris Turner, Yum! Brands Chief Financial Officer, effective March 1, 2024. Park, who most recently served as Chief Digital & Technology Officer for Pizza Hut Global, succeeds Clay Johnson, who will continue with Yum! Brands as a Senior Advisor. As CDTO, Park will join the Yum! Brands Global Leadership Team and oversee the Company’s global technology strategy, partnering with the KFC, Pizza Hut, Taco Bell and the Habit Burger Grill divisions to ensure the Company provides a best-in-class digital experience for customers and restaurant team members and strong economics for franchisees. Park joined Yum! Brands in 2020 as its first Chief Innovation Officer and has served as Chief Digital and Technology Officer for Pizza Hut Global since 2021. In his most recent role, Park was responsible for leading omnichannel customer experiences, e-commerce and restaurant technologies for more than 19,000 Pizza Hut restaurants in more than 100 countries. At Pizza Hut, Park oversaw the rollout of Dragontail’s AI-based platform for optimizing and managing the entire food preparation process from order through delivery, and HutBot, Pizza Hut’s “coach-in-your-pocket” app for managers, both of which have been deployed in thousands of restaurants across multiple markets. In his previous role as Chief Innovation Officer for Yum! Brands, Park led the development of emerging technologies, including leveraging artificial intelligence and automation to streamline operations in the Company’s restaurant kitchens and enhance the experience for team members and customers. Prior to joining Yum! Brands, Park held executive leadership positions at Walmart and GE. At Walmart, Park was VP of Associate Digital Experience and Enterprise Architecture, overseeing 2,000 employees and providing technology to the largest private sector workforce in the world, modernizing platforms, digitizing processes and transforming user experiences. Upcoming Dividend • Nov 21
Upcoming dividend of US$0.60 per share at 1.9% yield Eligible shareholders must have bought the stock before 27 November 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Mexican dividend payers (7.2%). Lower than average of industry peers (5.8%). Duyuru • Nov 17
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on December 8, 2023 Yum! Brands, Inc. declared a dividend of $0.605 per share of common stock. The quarterly dividend will be distributed December 8, 2023 to shareholders of record at the close of business on November 28, 2023. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: US$1.48 (vs US$1.16 in 3Q 2022) Third quarter 2023 results: EPS: US$1.48 (up from US$1.16 in 3Q 2022). Revenue: US$1.71b (up 4.1% from 3Q 2022). Net income: US$416.0m (up 26% from 3Q 2022). Profit margin: 24% (up from 20% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Nov 09
Insider recently sold Mex$21m worth of stock On the 6th of November, Mark King sold around 10k shares on-market at roughly Mex$2,220 per share. This transaction amounted to 54% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$31m more than they bought in the last 12 months. Board Change • Aug 14
High number of new directors Director Susan Doniz was the last director to join the board, commencing their role in 2023. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$1.49 (vs US$0.78 in 2Q 2022) Second quarter 2023 results: EPS: US$1.49 (up from US$0.78 in 2Q 2022). Revenue: US$1.69b (up 3.1% from 2Q 2022). Net income: US$418.0m (up 87% from 2Q 2022). Profit margin: 25% (up from 14% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 22
Yum! Brands, Inc. Appoints Brett Biggs and Susan Doniz to Its Board of Directors, Effective from August 10, 2023 Yum! Brands, Inc. announced the appointments of Brett Biggs, former Executive Vice President and Chief Financial Officer of Walmart Inc., and Susan Doniz, Chief Information Officer and Senior Vice President of Information Technology & Data Analytics of The Boeing Company, to its Board of Directors, effective August 10, 2023 Biggs is the former Executive Vice President and Chief Financial Officer for Walmart Inc., a people-led, tech-powered omnichannel retailer. In his role as Chief Financial Officer at Walmart Inc., in which he served from 2016 until June 2022, Biggs was responsible for all global finance and indirect procurement functions as well as corporate strategy. His oversight also included Walmart’s global Enterprise Business Services work to deliver digital and finance transformation initiatives worldwide. Biggs spent nearly 23 years at Walmart, serving in senior leadership positions including Chief Financial Officer for Walmart International, Walmart U.S. and Sam’s Club. He also served as Senior Vice President of International Strategy, Mergers and Acquisitions, and as Senior Vice President of Operations for Sam’s Club. Before joining Walmart, Biggs held various M&A and corporate finance positions with Leggett & Platt, Phillips Petroleum Co. and Price Waterhouse. Biggs serves as a senior advisor for Blackstone and sits on the Board of Directors of Adobe. He holds a bachelor’s degree in accounting from Harding University and received an MBA with Honors from Oklahoma State University. Doniz is Chief Information Officer and Senior Vice President of Information Technology & Data Analytics of The Boeing Company, a leading global aerospace company. In this role, Doniz oversees all aspects of information technology, information security, data and analytics and supports the growth of Boeing’s business through IT and analytics-related revenue generating programs. She is also a member of the company’s Executive Council. Before joining Boeing in 2020, Doniz was the Group CIO of Qantas Airways and, prior to that, served in digital transformation and IT leadership roles at SAP and Aimia. Doniz also spent 17 years at Procter & Gamble leading IT programs in support of sales, research and development and the supply chain. Doniz serves as an adviser to the Center for Digital Transformation at the University of California, Irvine, Paul Merage School of Business. She has served as Vice Chair of the Digital Transformation Advisory Council of the International Air Transport Association and as a board member of multiple nonprofit organizations. Doniz has been a champion and self-starter of a variety of diversity networks for women in science, technology, engineering and mathematics, as well as for Hispanics in business leadership. The Association of Latino Professionals For America named Doniz as one of the most powerful Latinas in 2022. She is an honors graduate of the University of Toronto with a bachelor’s degree in applied science and engineering and studied post graduate in industrial engineering at Eindhoven University of Technology. Duyuru • Jul 01
Taco Bell Announces Executive Changes Taco Bell announced that CEO Mark King is retiring at the end of the year, and the brand is promoting from within to replace him. Sean Tresvant, global chief brand and strategy officer at Taco Bell, will step into the top executive role on Jan. 1, 2024. As CEO, he will assume global responsibility for driving Taco Bell's growth strategies, franchise operations and overall performance, reporting to Yum Brands CEO David Gibbs. Tresvant joined Taco Bell in January 2022 as global chief brand officer. He was promoted to an expanded role as global chief brand and strategy officer earlier this year, focused on developing perspective and ambition for long-term global growth. In his current role, Tresvant has overseen the brand's strategy, food innovation, architecture and design and global communications functions as well as the Taco Bell International business. During his time with Taco Bell, he set a "powerful strategic framework that has created iconic moments within culture and driven massive awareness and buzz for the brand," including several high-profile celebrity partnerships and the return of the fan favorite Mexican Pizza. Prior to joining Taco Bell, Tresvant spent more than 15 years in leadership roles at Nike including chief marketing officer of the Jordan Brand. King joined Taco Bell in 2019 after successfully leading global sporting goods businesses with adidas. Under King's leadership, the Taco Bell business prioritized on-trend innovation, leaned into everyday value and grew from strength to strength, finishing 2022 with same-store sales growth of 8%, the release states. Board Change • Jun 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. Independent Director Keith Barr was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. Independent Director Keith Barr was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 20
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on June 9, 2023 Yum! Brands, Inc. Board of Directors declared a dividend of $0.605 per share of common stock. The quarterly dividend will be distributed June 9, 2023 to shareholders of record at the close of business on May 30, 2023. Board Change • May 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. Independent Director Keith Barr was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. Independent Director Keith Barr was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: US$4.63 (vs US$5.30 in FY 2021) Full year 2022 results: EPS: US$4.63 (down from US$5.30 in FY 2021). Revenue: US$6.84b (up 3.9% from FY 2021). Net income: US$1.33b (down 16% from FY 2021). Profit margin: 19% (down from 24% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Board Change • Feb 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. Independent Director Keith Barr was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Feb 09
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on March 10, 2023 Yum! Brands, Inc.'s Board of Directors declared a dividend of $0.605 per share of common stock. The quarterly dividend will be distributed March 10, 2023 to shareholders of record at the close of business on February 22, 2023. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$1.16 (vs US$1.78 in 3Q 2021) Third quarter 2022 results: EPS: US$1.16 (down from US$1.78 in 3Q 2021). Revenue: US$1.64b (up 2.1% from 3Q 2021). Net income: US$331.0m (down 37% from 3Q 2021). Profit margin: 20% (down from 33% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: US$0.78 (vs US$1.31 in 2Q 2021) Second quarter 2022 results: EPS: US$0.78 (down from US$1.31 in 2Q 2021). Revenue: US$1.64b (up 2.1% from 2Q 2021). Net income: US$224.0m (down 43% from 2Q 2021). Profit margin: 14% (down from 24% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.8%, compared to a 37% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: US$1.38 (vs US$1.08 in 1Q 2021) First quarter 2022 results: EPS: US$1.38 (up from US$1.08 in 1Q 2021). Revenue: US$1.55b (up 4.1% from 1Q 2021). Net income: US$399.0m (up 22% from 1Q 2021). Profit margin: 26% (up from 22% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 7.3%, compared to a 50% growth forecast for the industry in Mexico. Reported Earnings • Feb 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$5.30 (up from US$2.99 in FY 2020). Revenue: US$6.58b (up 17% from FY 2020). Net income: US$1.58b (up 74% from FY 2020). Profit margin: 24% (up from 16% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.2%, compared to a 51% growth forecast for the restaurants industry in Mexico. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$1.78 (vs US$0.93 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.61b (up 11% from 3Q 2020). Net income: US$528.0m (up 87% from 3Q 2020). Profit margin: 33% (up from 20% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Board Change • Oct 26
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Global Chief Communications & Public Affairs Officer and Chairman & CEO of Yum! Foundation Jerilan Greene was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Global Chief Communications & Public Affairs Officer and Chairman & CEO of Yum! Foundation Jerilan Greene was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 24
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Global Chief Communications & Public Affairs Officer and Chairman & CEO of Yum! Foundation Jerilan Greene was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$1.31 (vs US$0.68 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$1.60b (up 34% from 2Q 2020). Net income: US$391.0m (up 90% from 2Q 2020). Profit margin: 24% (up from 17% in 2Q 2020). The increase in margin was driven by higher revenue. Board Change • Jul 29
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Global Chief Communications & Public Affairs Officer and Chairman & CEO of Yum! Foundation Jerilan Greene was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 06
Full year 2020 earnings released: EPS US$2.99 (vs US$4.23 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$5.65b (up 1.0% from FY 2019). Net income: US$904.0m (down 30% from FY 2019). Profit margin: 16% (down from 23% in FY 2019). Same store sales growth: Down 6.0% vs FY 2019 Analyst Estimate Surprise Post Earnings • Feb 06
Revenue beats expectations Revenue exceeded analyst estimates by 0.4%. Over the next year, revenue is forecast to grow 10%, compared to a 33% growth forecast for the Hospitality industry in Mexico. Analyst Estimate Surprise Post Earnings • Nov 09
Revenue beats expectations Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 8.2%, compared to a 23% growth forecast for the Hospitality industry in Mexico. Reported Earnings • Nov 09
Third quarter 2020 earnings released: EPS US$0.93 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: US$1.45b (up 8.1% from 3Q 2019). Net income: US$283.0m (up 11% from 3Q 2019). Profit margin: 20% (in line with 3Q 2019). Analyst Estimate Surprise Post Earnings • Nov 01
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 2.9% at US$1.45b. Revenue is forecast to grow 8.2% over the next year, compared to a 18% growth forecast for the Hospitality industry in Mexico. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of US$1.06b, down 7.2% from the prior year. Total revenue was US$5.60b over the last 12 months, up 2.6% from the prior year. 
