Starbucks (NASDAQ: SBUX) said on Wednesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.61 per share of common stock.
The latter represents an increase of 7.02% compared to the previous quarterly dividend of $0.57 per share.
The dividend will be paid on November 29th to shareholders of record as of the close of business on November 15th 2024, the company said.
Starbucks Corp initiated its dividend in 2010 at $0.05 per share of outstanding common stock.
Stock Performance
The shares of Starbucks Corporation (SBUX) closed 0.86% ($0.83) higher at $97.65 on Nasdaq on Wednesday, as they extended the gain from the previous market session.
The company’s total market cap now stands at $110.657 billion.
The shares of Starbucks Corporation (SBUX) went down 3.21% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 1.71% so far this year.
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