Yum Brands’ board of directors approved an increase in its dividend Tuesday, sending the company’s stock to a 52-week high of $46.25.
Yum’s chairman and chief executive officer, David Novak said the company will increase the quarterly dividend for shareholders by 19 percent. The dividend will rise from $0.21 to $0.25, according to a company press release.
Dividend payments are expected to be distributed to shareholders on Nov. 5 as of record at the close of business on Oct. 15.
Yum is based in Louisville, Kentucky and operates quick services restaurants such as A&W, KFC, Pizza Hut, Taco Bell and Long John Silvers.
Shares of Yum were up slightly in afternoon trading Tuesday.