Yum China Holdings Inc. (YUMC) announced that it's launching a Restaurant Management Team Family Care Fund in July 2020, a program that will provide health care for about 86,000 worker family members. The announcement comes amid concerns about the coronavirus outbreak. The program will provide additional coverage for parents up to the age of 75 suffering with a critical illness, and additional accident coverage for children to the age of 22 and spouses. Yum China employees total more than 31,000 and include workers at KFC, Pizza Hut, Taco Bell, Little Sheep, Joy and other chains. Workers must pay a "small" contribution to the fund each year, and the program is voluntary. Yum China was up 1% in premarket trading and up 9.4% over the past year. The benchmark S&P 500 index has gained 20.5% for the period.
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 05, 2020 08:22 ET (13:22 GMT)
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