Starbucks has announced that its Board of Directors has declared a two-for-one stock split.
Shareholders of record as of 30 March will receive one additional share for each share held on the record date. The new shares will be payable on 8 April.
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, the company said in a statement.
“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 (pictured), 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,” he added.
“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.
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