YUM CHINA's stock soared 5.10% in the intraday trading session on Friday, following the company's announcement of a $360 million share repurchase program through a Hong Kong repurchase agreement.
The share buyback program is a strategic move by YUM CHINA to enhance shareholder value and demonstrate confidence in the company's long-term growth prospects. By repurchasing shares, the company is effectively reducing the number of outstanding shares, which can lead to an increase in earnings per share and potentially boost the stock price.
This share repurchase announcement has been well-received by the market, as evidenced by the significant intraday surge in YUM CHINA's stock price. Investors view this move as a positive sign of the company's financial strength and commitment to returning value to shareholders.
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