SEATTLE--(BUSINESS WIRE)--Jul. 23, 2015--
Starbucks Corporation (NASDAQ:SBUX) today announced that its Board of
Directors has authorized the repurchase of an additional 50 million
shares of the Company's common stock under its ongoing share repurchase
program. This authorization has no expiration date and is in addition to
the 11 million shares that remained available for repurchase as of June
28, 2015 under an existing authorization.
“Since the Company's share repurchase program was authorized in
September of 2001, Starbucks has repurchased more than 430 million
shares at a cost of $7.4 billion under authorizations through June 28,
2015,” said Scott Maw, Starbucks chief financial officer. “This
additional authorization reflects the ongoing strength of Starbucks
balance sheet and operating cash flow, which allows us to support our
global growth and return value to our shareholders through the payment
of quarterly dividends and share repurchases.”
Shares will continue to be repurchased in the open market at times and
amounts considered appropriate by the Company based on several factors
including price and market conditions. The Company may also repurchase
shares through trading plans entered into pursuant to Rule 10b5-1 of the
Securities Exchange Act of 1934.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting high-quality arabica coffee. Today, with
stores around the globe, the company is the premier roaster and retailer
of specialty coffee in the world. Through our unwavering commitment to
excellence and our guiding principles, we bring the unique Starbucks
Experience to life for every customer through every cup. To share in
the experience, please visit us in our stores or online at https://news.starbucks.com/.
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Source: Starbucks Corporation
Starbucks
Investor Relations:
JoAnn DeGrande,
206-318-7118
[email protected]
or
Media:
Linda
Mills, 206-318-7100
[email protected]