SEATTLE (dpa-AFX) - 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.
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