Yum Brands Inc. has authorized the repurchase of up to $500 million of the company's common stock.
The repurchase will take place over a period of up to 12 months.
Yum has about 283 million shares outstanding.
Louisville-based Yum Brands (NYSE: YUM - News) operates about 34,000 restaurants in more than 100 countries and territories.
Source URL: http://www.qsrmagazine.com/news/yum-authorizes-500-million-stock-buyback