Starbucks Raises Its Dividend by 10%
Talk about an extra shot in your cappuccino: On Wednesday after market hours, coffee king Starbucks (NASDAQ: SBUX) announced a 10% hike in its quarterly dividend. The company is upping the payout from $0.41 to $0.45. The first distribution of the enhanced amount will take place on Nov. 27 to investors of record as of Nov. 12. At the latest closing stock price, the new dividend would yield just under 2.1%.
Starbucks celebrated the tenth anniversary of its dividend earlier this year. Since beginning the payout in 2010 at $0.05 (adjusted for a 2015 stock split), the company has declared a raise once annually, typically near the end of the year.
Image source: Starbucks.
Source Fool.com
