Why was the May dividend distribution changed to March 30 in 2007?
By law, dividends must be distributed within 120 days of the date the dividend was approved and declared. On December 5, 2006, the Yum! Brands Board of Directors approved doubling the company’s quarterly dividend (15 cents per share at that time). Accordingly, the board declared a dividend of 30 cents per common share, payable March 30, 2007, to shareholders of record as of March 9, 2007. March 30 is within 120 days of the declaration date. This March distribution takes the place of the regular distribution in May for 2007 only.
