Yum! Brands upbeat on EPS growth forecast

by Meat&Poultry Staff
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LOUISVILLE, Ky. – In advance of its annual investor update meeting, Yum! Brands Inc. reaffirms its full year 2010 EPS growth forecast of 14%, excluding special items. It also expects to deliver at least 10% EPS growth in 2011, excluding special items, which would mark its tenth straight year of meeting or exceeding this annual EPS growth target.

“2010 has been a strong year led by our China business, and I’m pleased to report we remain on track to deliver 14% EPS growth,” said David Novak, chairman and CEO. “We take satisfaction that our EPS growth this year has been driven by strong operating profit growth, including expected gains in all of our business segments. Continued robust new unit development in China and Yum! Restaurants International not only contributed to this year’s strong results, but sets the company up for growth in 2011.

“We continue to generate strong free cash flow and our Return on Invested Capital [ROIC] remains among the best in the industry,” he added. “We are also pleased that in September, we increased our quarterly dividend 19%, raising our annual dividend rate to $1.00 per share. We also reinstituted share repurchases this year.”
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