Wednesday, September 28th the Board of Directors of Starbucks Corporation (SBUX) announced a quarterly dividend increase of from $ 0.49 to $ 0.53 per share that’s payable November 25, 2022 to holders of record November 11, 2022. This represents an 8.16% increase over the last quarterly dividend.
With current price $ 85.62 (yesterday's close), this raise brings their dividend yield to 2.48%.
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 9.5, 11.7, 16.7 and 20.7 (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 very happy to take it.
This is the third 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 $0.53, or 29.3%.
This increase raises my YOC to 2.84%.
Summary of 2022 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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