Feeling The Brew! Starbucks Announces A Juicy Dividend Hike
Portfolio Pulse from Shivani Kumaresan
Starbucks Corp (NASDAQ:SBUX) announced a 7.5% increase in its quarterly cash dividend from $0.53 to $0.57 per share, effective from November 24, 2023. This raises the company's annual dividend rate to $2.28 per share. The company has been increasing its dividend consecutively each year over the past 13 years at a CAGR of approximately 20%.
September 21, 2023 | 10:14 am
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Starbucks' announcement of a 7.5% increase in its quarterly cash dividend may attract income-focused investors, potentially leading to a positive impact on its stock price.
Dividend increases are generally seen as a positive signal by the market, indicating a company's confidence in its future earnings. This could attract income-focused investors, leading to increased demand for the stock and potentially a rise in its price.
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