Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Stock, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information and Dividend Policy
The Company’s Common Stock trades under the symbol YUM and is listed on the New York Stock Exchange (“NYSE”).
As of February 17, 2023, there were 35,943 registered holders of record of the Company’s Common Stock.
In 2022, the Company declared and paid four cash dividends of $0.57 per share. In February 2023, the Company’s Board of Directors declared a dividend of $0.605 per share to be distributed March 10, 2023 to shareholders of record at the close of business on February 22, 2023. Future decisions to pay cash dividends continue to be at the discretion of the Company’s Board of Directors and will be dependent on our operating performance, financial condition, capital expenditure requirements and other factors that the Company’s Board of Directors considers relevant.
Issuer Purchases of Equity Securities
The following table provides information as of December 31, 2022, with respect to shares of Common Stock repurchased by the Company during the quarter then ended.
Fiscal Periods Total number
of shares
purchased
(thousands) Average price
paid per share Total number of shares
purchased as part of
publicly announced plans
or programs
(thousands) Approximate dollar value
of shares that may yet be
purchased under the plans
or programs
(millions)
10/1/22 - 10/31/22 2,037 $ 110.44 2,037 $ 2,011
11/1/22 - 11/30/22 935 $ 123.82 935 $ 1,895
12/1/22 - 12/31/22 1,124 $ 129.30 1,124 $ 1,750
Total 4,096 $ 118.67 4,096
In May 2021, our Board of Directors authorized share repurchases from July 1, 2021 through December 31, 2022, of up to $2.0 billion (excluding applicable transaction fees) of our outstanding Common Stock. Shares repurchased under this authorization during the quarter totaled $236 million and this authorization was exhausted as of December 31, 2022. In September 2022, our Board of Directors authorized share repurchases of up to $2.0 billion (excluding applicable transaction fees) of our outstanding Common Stock through June 30, 2024. The new authorization took effect during the fourth quarter of 2022 upon the exhaustion of the authorization approved in May 2021 and $250 million in shares were repurchased under this authorization during the quarter ended December 31, 2022.
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Stock Performance Graph
This graph compares the cumulative total return of our Common Stock to the cumulative total return of the S&P 500 Index and the S&P 500 Consumer Discretionary Sector Index, a peer group that includes YUM, for the period from December 30, 2017 to December 31, 2022. The graph assumes that the value of the investment in our Common Stock and each index was $100 at December 29, 2017, and that all cash dividends were reinvested.
12/29/2017 12/31/2018 12/31/2019 12/30/2020 12/31/2021 12/30/2022
YUM $ 100 $ 115 $ 128 $ 140 $ 182 $ 171
S&P 500 $ 100 $ 96 $ 126 $ 149 $ 191 $ 157
S&P Consumer Discretionary $ 100 $ 101 $ 129 $ 172 $ 214 $ 135
Source of total return data: Bloomberg
Item 6. [Reserved]
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