By Denny Jacob

 

Starbucks Corp. on Wednesday said its board approved an increase to its quarterly cash dividend to 53 cents a share from 49 cents.

The coffee chain said the increase will be effective with the dividend payment being distributed on Nov. 25 to shareholders of record on Nov. 11 and raises the company's annual dividend rate to $2.12 a share.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

September 28, 2022 16:27 ET (20:27 GMT)

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