Starbucks Announces 10% Increase in Quarterly Cash Dividend
September 30 2020 - 4:30PM
Business Wire
Marks Tenth Consecutive Annual Increase
Starbucks Corporation (NASDAQ: SBUX) today announced that its
Board of Directors approved a 10% increase in the Company’s
quarterly cash dividend. The quarterly cash dividend will increase
from $0.41 to $0.45 per share and will be effective with the
dividend payment to be distributed 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.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with more than 32,000 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 stories.starbucks.com or
www.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,” “believe,” “continue,” “could,”
“expect,” “forecast,” “may,” “predict,” “remain,” “should,” “will,”
“would,” and similar expressions intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. These statements
include statements relating to the ability to continue our
quarterly dividends uninterrupted during the COVID-19 crisis, the
strength of our recovery and cash flow generation, the robustness
of our long-term growth model, the commitment to reducing our
financial leverage and our continued investment in future growth.
These forward-looking statements are based on currently available
operating, financial and competitive information and are subject to
a number of significant risks and uncertainties. Actual future
results and trends may differ materially depending on a variety of
factors, including, but not limited to, the disruption to our
business related to COVID-19 and other risks detailed in the
Company filings with the Securities and Exchange Commission,
including the “Risk Factors” sections of Starbucks Annual Report on
Form 10-K for the fiscal year ended September 29, 2019 and
Starbucks Quarterly Report on Form 10-Q for the fiscal quarter
ended June 28, 2020. 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/20200930005927/en/
Starbucks Contact, Investor Relations: Durga Doraisamy
206-318-7118 investorrelations@starbucks.com
Starbucks Contact, Media: Reggie Borges 206-318-7100
press@starbucks.com
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