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
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You can follow the development of my dividends here.
Full Disclosure: Long SBUX
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