Yum! Brands adds member to board of directors

Nov. 20, 2011

Yum! Brands Inc. has appointed Mirian M. Graddick-Weir, 56, to its board of directors effective Jan. 26, 2012.

Graddick-Weir is the executive vice president of Human Resources of Merck & Co. Inc. based in Whitehouse Station, N.J.

"Mirian leads human resources for one of the leading pharmaceutical companies in the world and has a demonstrated leadership capability and distinguished career. As we continue to grow our system around the world by putting the capability of our people first, Mirian's specific expertise will complement our efforts to be a magnet for great talent and enhance our recognition culture," said David C. Novak, Yum! Brands chairman and CEO.

Graddick-Weir has been ranked as "HR Executive of the Year," "Woman of the Year" and "Top 25 Most Influential African-Americans" by several leading organizations.

Share repurchase

Yum! also announced that its board of directors authorized the repurchase of up to an additional $750 million of the company's outstanding common stock through May 31, 2013. As of Nov. 11, 2011, there was approximately $250 million remaining under the existing share-repurchase authorization.

Additionally, Yum! Brands' board of directors declared a dividend of $0.285 per share of common stock, which will be distributed Feb. 3, 2012, to shareholders of record at the close of business on Jan. 13, 2012.

In September 2011, Yum! increased its quarterly dividend 14 percent to $0.285 per share. Yum! has increased its dividend each year since initiating a dividend in 2004. Each annual increase has been at a double-digit percentage rate.

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