CHINA's KFC, Pizza Hut and Taco Bell parent, yum China Holdings, has announced an increase of its buyback plan of US$1 billion to $2.4 billion, reports Reuters.
Shares in the company have fallen in recent days following an auditing dispute between Beijing and Washington, but China's regulators are confident they could reach a deal.
The company said last week it might have to delist from the New York Stock Exchange by 2024 after US authorities said it had failed to provide access to audit documents. It said it has bought back 4 million shares for $188 million so far this quarter, and returned nearly $1.7 billion to shareholders through dividends and repurchases to date.
It said earlier this week same-store sales in China decreased 20 per cent from a year earlier for the first two weeks of March due to Omicron curbs after falling nearly four per cent for January and February combined.
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Shares in the company have fallen in recent days following an auditing dispute between Beijing and Washington, but China's regulators are confident they could reach a deal.
The company said last week it might have to delist from the New York Stock Exchange by 2024 after US authorities said it had failed to provide access to audit documents. It said it has bought back 4 million shares for $188 million so far this quarter, and returned nearly $1.7 billion to shareholders through dividends and repurchases to date.
It said earlier this week same-store sales in China decreased 20 per cent from a year earlier for the first two weeks of March due to Omicron curbs after falling nearly four per cent for January and February combined.
SeaNews Turkey
