Wednesday, September 29th the Board of Starbucks Corporation (SBUX) announced a quarterly dividend increase of from $ 0.45 to $ 0.49 per share that’s payable November 26, 2021 to holders of record November 12, 2021. This represents a 8.89% increase over the last quarterly dividend.
Starbucks initiated its dividend in 2010 and has increased it in each of the past 11 years.
With current price $ 112.58 (today's open), this raise brings their dividend yield to 1.74%.
Starbucks Corporation is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 12.8, 17.0, 19.8 and 25.0 (Dividend Champions.xls)
Since I own 40 shares of SBUX, this will increase my portfolio's projected annual net dividend income by $ 4.77.
This increase was a couple of percent higher than I expected, but I am happy to take it.
This is the second dividend increase I received from Starbucks Corporation since initiating a position May 2020. During this period, the quarterly dividend has risen nicely from $0.41 to $0.49, or 19.5%.
This increase raises my YOC to 2.63%.
Summary of 2021 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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