Tuesday,
October 22nd the Board of Directors of Starbucks Corporation (SBUX)
announced
a quarterly dividend increase of from $0.57 to $0.61 per share that’s
payable November 29, 2024 to holders of record November 15, 2024.
This represents a 7.02% increase over the last quarterly dividend.
Starbucks initiated its dividend in
2010 at $0.05 per share of outstanding Common Stock, and increased
its dividend consecutively each year over the past 14 years at a CAGR
of approximately 20%.
With current price $97.38 (today’s
open), this raise brings their dividend yield to 2.51%.
Starbucks Corporation is a Dividend
Contenders with a 15 year streak of dividend increases. Dividend
growth rates for 1, 3, 5 and 10 years are 8.0, 8.7, 10.4 and 17.1
(Dividend
Champions.xls)
Since I own 50 shares of SBUX, this
will increase my portfolio’s projected annual net dividend income by
$5.96.
This increase was in line with my
expectations.
This is the fifth dividend increase I
received from Starbucks Corporation since initiating a position May
2020. During this period, the quarterly dividend has risen
comfortable from $0.41 to $0.61, or 48.8%.
This increase raises my Yield on Cost
to 3.25%.
Summary of 2024 Dividend Increases /
Cuts
Click here
to see my portfolio holdings.
You can follow the development of my
dividends here.
Full Disclosure: Long SBUX
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