Starbucks Remains Committed to Share Buybacks
Starbucks (NASDAQ: SBUX) plans to repurchase up to 40 million shares of the company's stock. That number does not include 16 million shares its board of directors had already authorized the coffee chain to repurchase.
Share buybacks are a way to return capital to shareholders while giving the company a bigger share of its own stock. In theory, it could use that stock down the road to fund an acquisition or reissue it to raise money for a new project.
Starbucks CEO Kevin Johnson sometimes works shifts in the chain's stores. Image source: Starbucks.
Source Fool.com
