Starbucks announces 16th consecutive annual dividend increase

Starbucks Corporation has announced an increase in its quarterly dividend, raising the payout from $0.62 to $0.63 per share. This move marks the company’s sixteenth consecutive annual dividend increase. The annualized dividend will be $2.52 per share.

Shareholders of record as of November 13 will receive the payment on November 27. Following the announcement, the company saw an uptick in trading volume, with approximately 7.7 million shares traded.

Chief Financial Officer Cathy Smith stated that the increase reflects the company’s continued confidence. While the dividend represents a modest increase of approximately 1.6%, it continues a long-standing pattern of annual growth maintained by management despite fluctuations in quarterly earnings.