YUM! Okays Buyback, Honda Gets Even With Hyundai: Consumer Business Update
In a Friday press release, the board of directors of YUM! Brands (NYSE: YUM) okayed a buyback of as much as $1 billion in additional shares of common stock and also declared a dividend of 33.5 cents per share of common stock. This quarterly dividend will be distributed February 1, 2013 to shareholders of record at closing on January 11th.
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Honda Motor Co. (NYSE:HMC) might be recovering from the time at a 2010 auto show in Detroit when Hyundai Motor Co. (HYMLF.PK) claimed that its own brand was America’s most fuel-efficient. Now, Honda is stepping up sales of its new Accord sedan and is also readying a modified Civic small car while Hyundai and its affiliate Kia Motors Corp. (KIMTF.PK) are themselves recovering after conceding to have made the broadest overstatement of fuel-economy ratings ever cited by the United States Environmental Protection Agency. As a result, Toyota Motor Corporation (NYSE:TM) and others are now promoting fuel-efficient new models.
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