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Starbucks Announces 10% Increase in Quarterly Cash Dividend

1Oct By PriyankaNo Comments

Market

Starbucks Announces 10% Increase in Quarterly Cash Dividend

SEATTLE, Oct 1st 2020-- Starbucks Corporation (NASDAQ: SBUX) announced that its Board of Directors approved a 10% increase in the Company’s quarterly cash dividend. The quarterly cash dividend will increase from $0.41 to $0.45 per share and will be effective with the dividend payment to be distributed 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 fut...

Coca-Cola Buys Out ‘Costa Coffee’ from Whitbread

1Sep By Gauri SinghNo Comments

ACQUISITION

Coca-Cola Buys Out ‘Costa Coffee’ from Whitbread

US-based beverage maker Coca-Cola has reportedly agreed to buy out coffee chain Costa Coffee from UK drinks and hotels group Whitbread. The amount of the deal is worth $5.1 billion including debt. This move has been taken primarily to extend its push into healthier drinks as the demand for aerated and soda drinks is falling. Also, the company is trying to take on the likes of Starbucks and Nestle as the global coffee market is getting a boost. Costa has nearly 4,000 stores across 32 countries. It will give Coca-Cola "a strong coffee platform across parts of Europe, Asia Pacific, the Middle East and Africa, with the opportunity for additional expansion," Coca-Cola stated. Coca-Cola will use its distribution network to supercharge Costa's expansion as it is currently behind the predomin...

CEO of Starbucks Howard Schultz is Stepping Down

5Jun By AdityaNo Comments

News

CEO of Starbucks Howard Schultz is Stepping Down

The Starbucks Corporation informed media that the CEO of Starbucks Howard Schultz is stepping down this month. Myron E. "Mike" Ullman would be the new chairman upon Schultz's retirement. Howard Schultz joined coffee chain group 30 years ago. He oversaw the transformation of Starbucks into a global chain with more than 28,000 locations. He is now focused on innovation and social impact projects and also writing a book about Starbucks' social impact efforts. "Starbucks changed the way millions of people drink coffee, this is true, but we also changed people's lives in communities around the world for the better," Schultz said in a letter to Starbucks employees. Schultz said he was considering "a range of options for myself, from philanthropy to public service," but wasn't sure wh...

8000 Starbucks Stores Will Shut Down in USA

18Apr By NitishNo Comments

USA

8000 Starbucks Stores Will Shut Down in USA

World's leading coffee chain Starbucks announced that they will shut over 8,000+ stores in the USA for one day to conduct anti-bias training. The announcement comes over an incident happened in Philadelphia Starbucks store last week, where the two African men were arrested for not ordering anything and using the bathroom. The two men entered the Starbucks on Thursday and asked to use the bathroom. An employee told them it was only for the paying customers. The Police were called reportedly by the manager when the two men sat in the store without placing the order. The men were arrested for trespassing. However, no charges have been filed. As per the report, due to this incident, Starbucks will close the stores May 29 to offer the training to 175,000 employees. "I've spent th...