Starbucks gives first dividend
March 26th, 2010
Starbucks’ CEO proclaimed its once-stumbling brand is back in business after two years of layoffs and store closings, while the coffee giant issued its first-ever dividend for investors on Wednesday.
Speaking in front of thousands of shareholders and employees at the company’s annual meeting in Seattle, CEO Howard Schultz said the brand’s turnaround effort sliced $580 million from its expenses and is now taking hold cash advance no fax.
Earlier in the day, Starbucks announced the dividend, pledging to return 10 cents per share to investors and ultimately boosting that payment to as much as 40 percent of its annual profit.
Filed under: money by Wolf