Yum Brands doesn’t plan stock buybacks in 2009
By Paul Ziobro Dow Jones NewswiresNews
11, 2008, New York, U.S – Yum Brands Inc. says it doesn't plan to buy back any
of its shares in 2009 as the fast-food giant looks to preserve cash.
The operator of Taco Bell and Pizza
Hut restaurants disclosed the change to its buyback program at an investor
conference in New York.
Restaurants chains have been cutting
back on repurchasing shares and building up their cash as they work through the
Last week, Yum said that it expected
another year of double-digit profit growth in 2009. Shares were recently
trading down 7 cents to $27.98.
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