Starbucks Serves Up First Dividend, Boosts Buyback

Coffee giant Starbucks (SBUX: 25.5895, 0.1795, 0.71%) said it will begin paying a quarterly dividend of 10 cents a share to its shareholders starting this quarter, the first time in the company's 38-year history, and will also increase its stock buy-back program.

Starbucks said it will pay a dime a share to shareholders on April 23 for stockholders of record on April 7. The company said it plans to continue paying a quarterly dividend in a target range of 35% to 40% of the company's net income per quarter.

"Starbucks' solid cash position and cash-flow outlook enable the company to invest in future profitable growth through stores, innovation and new platforms, while also returning cash to our shareholders," said the company's chief financial officer, Troy Alstead, in a statement.

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- Posted: 2010-03-24 10:39:51

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