Starbucks Coffee (SBUX) Announces Two-for-One Stock Split
Get Alerts SBUX Hot Sheet
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 2.6%
Revenue Growth %: +5.5%
Join SI Premium – FREE
(Updated - March 18, 2015 1:21 PM EDT)
Starbucks Coffee (NASDAQ: SBUX) announced that its Board of Directors has declared a two-for-one stock split.
Shareholders of record as of March 30, 2015 will receive one additional share for each share held on the record date. The new shares will be payable on April 8, 2015. Starbucks common stock will begin trading on a split-adjusted basis on April 9, 2015. This is the sixth two-for-one split of the company’s common stock since its initial public offering in 1992; the previous stock split occurred in October 2005.
"On behalf of our board of directors, the Starbucks leadership team and the 300,000 partners who wear the Green Apron globally, I am proud to announce this two-for-one stock split, the sixth in our 23-year history as a public company," said Howard Schultz, chairman and ceo of Starbucks Corporation. "This split is a direct reflection of the past seven years of increasing shareholder value, enhancing the liquidity of our shares, and building an attractive share price. It also takes place at a time when Starbucks shareholders are experiencing an all-time high in value as we continue to deliver world-class customer service and, in turn, record profits and revenue."
"Adjusting for the stock split effectively has the impact of modestly increasing our earnings guidance for the second quarter and for fiscal 2015," noted Scott Maw, chief financial officer of Starbucks Corporation.
On a split adjusted basis, the company’s previously communicated GAAP and non-GAAP earnings per share targets equate to GAAP EPS of $0.32 and a non-GAAP range of $0.32 to $0.33 for the second quarter of fiscal 2015, and a GAAP range of $1.77 to $1.79 and a non-GAAP range of $1.55 to $1.57 for the full fiscal year 2015. Due to this adjustment, the company is updating its GAAP and non-GAAP Q2 FY15 and full year FY15 EPS targets; it is neither updating nor reaffirming any other FY15 targets at this time. A reconciliation of GAAP to non-GAAP measures can be found at the end of this release.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Ball Corporation (BALL) Raises Dividend, Enters 40M Share Buyback, Announces Management Changes
- Marex Group (MRX) Prices 15.38M Share IPO at $19/sh
Create E-mail Alert Related Categories
Corporate News, Hot Corp. News, Management Comments, Stock SplitsRelated Entities
Earnings, IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!