Yum China (YUMC) Declares $0.10 Intial Quarterly Dividend, 1% Yield; Boosts Share Buyback to $500M
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Yum China Reports 6% Same-Store Sales Growth and 10% System Sales Growth; Operating Profit Up 11% YoY; Board Declares Initial Dividend and Expands Share Repurchase Authorization
October 5, 2017 4:30 PM EDTSHANGHAI, Oct. 5, 2017 /PRNewswire/ --Â Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC) today reported unaudited results for the third quarter ended August 31, 2017.
Third Quarter Highlights
Same-store sales grew 6%, including growth of 7% at KFC, flat at Pizza Hut. Total system sales grew 10%, including growth of 11% at KFC and 7% at Pizza Hut, excluding foreign currency translation ("F/X"). Opened 129 new restaurants during the quarter. Total restaurant margin increased 0.8 percentage points to 20.0%, primarily driven by same-store sales leverage. Operating profit increased... More