logo
Plus   Neg
Share
Email

Starbucks Boosts Dividend By 10%

Starbucks Corp. (SBUX) Wednesday raised its quarterly dividend by 10%.

The coffee retail giant has increased its quarterly cash dividend to $0.45 per share from $0.41. The dividend will be paid on November 27, 2020 to shareholders of record on November 12, 2020. This increase raises the Company's annual dividend rate to $1.80 per share.

"The Board's decision to raise our quarterly dividend demonstrates confidence in the strength of our recovery and the robustness of our long-term growth model," said Kevin Johnson, Starbucks president and ceo. "Our cash flow generation is strong, and we remain committed to reducing our financial leverage while continuing to invest for future growth," concluded Johnson.

Starbucks initiated its dividend in 2010 and has increased it in each of the past 10 years.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Door County Coffee & Tea Co. has recalled its 5.1 ounce packages of French Vanilla Flavored Cappuccino Single Serve Cups citing the potential to be contaminated with undeclared Milk and Soy, the U.S. Food and Drug Administration said. The affected product comes in a 5.1 ounce full color cardboard box that contains 10 single serve cups, under the brand name Door County Coffee & Tea. Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way.
Follow RTT