Wednesday, September 20th the Board of Directors of Starbucks Corporation (SBUX) announced a quarterly dividend increase of from $0.53 to $0.57 per share that’s payable November 24, 2023 to holders of record November 10, 2023. This represents a 7.55% increase over the last quarterly dividend.
With current price $92.74 (yesterday's close), this raise brings their dividend yield to 2.46%.
Starbucks Corporation is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.7, 10.3, 13.8 and 18.7 (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 in line with my expectations.
This is the fourth 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 $0.57, or 39.0%.
This increase raises my YOC to 3.06%.
Summary of 2023 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long SBUX
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