Starbucks Corporation Accelerated Share Repurchase Underway
October 12 2018 - 8:00AM
Business Wire
As part of Starbucks Corporation’s (NASDAQ: SBUX) previously
announced plan to return $25 billion to shareholders in the form of
share buybacks and dividends through fiscal 2020, the Company is
currently executing a $5 billion accelerated share repurchase
program (ASR) of the Company’s common stock with the assistance of
two financial institutions. The Company used proceeds from the
recently completed transaction with Nestlé S.A. to execute the ASR,
effective October 1, 2018. Initial delivery of shares represented
approximately 80% of the total shares that will be repurchased
under the ASR, which is expected to be completed as early as
February 2019 and no later than March 2019. The total shares
repurchased will be based on the volume weighted average share
price during the term of the ASR, less an agreed discount, and is
subject to certain adjustments under the agreements.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with more than 29,000 stores around the globe, the company is the
premier roaster and retailer of specialty coffee in the world.
Through our unwavering commitment to excellence and our guiding
principles, we bring the unique Starbucks Experience to life for
every customer through every cup. To share in the experience,
please visit us in our stores or online at
www.starbucks.com and www.news.starbucks.com.
Forward-Looking
Statements
Certain statements contained herein are “forward-looking”
statements within the meaning of the applicable securities laws and
regulations. Generally, these statements can be identified by the
use of words such as “anticipate,” “expect,” “believe,” “could,”
“estimate,” “feel,” “forecast,” “intend,” “may,” “plan,”
“potential,” “project,” “should,” “will,” “would,” and similar
expressions intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These statements are based on information
available to Starbucks as of the date hereof, and Starbucks actual
results or performance could differ materially from those stated or
implied, due to risks and uncertainties associated with its
business. These risks and uncertainties include, but are not
limited to, fluctuations in the U.S. and international economies
and currencies, our ability to preserve, grow and leverage our
brands, potential negative effects of incidents involving food or
beverage-borne illnesses, tampering, adulteration, contamination or
mislabeling, potential negative effects of material breaches of our
information technology systems to the extent we experience a
material breach, material failures of our information technology
systems, costs associated with, and the successful execution of,
the company’s initiatives and plans, the acceptance of the
company’s products by our customers, the impact of competition, as
well as general economic and industry factors such as coffee, dairy
and other raw materials pricing and availability, successful
execution of internal performance and expansion plans, the impact
of initiatives by competitors, the effect of legal proceedings, and
other risks detailed in the Company’s filings with the Securities
and Exchange Commission, including the “Risk Factors” section of
the Company’s Annual Report on Form 10-K for the fiscal
year ended October 1, 2017. The Company assumes no obligation
to update any of these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20181012005079/en/
Investor Relations, Starbucks:Tom Shaw,
206-318-7118investorrelations@starbucks.comorMedia,
Starbucks:Jaime Riley, 206-318-7100press@starbucks.com
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