Yum! Brands, Inc. (NYSE: YUM), Board of Directors has declared the company’s first dividend since separation of its China business of $0.30 per share of common stock. The quarterly dividend will be distributed Feb. 3 to shareholders of record at the close of business on Jan. 13. Over the long term, Yum! targets a payout ratio of 45%-50% of annual net income, before special items.

Yum! Brands, Inc., based in Louisville, Ky., has nearly 43,000 restaurants in 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. The company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.