SEATTLE--(BUSINESS WIRE)--
As part of Starbucks Corporation’s (NASDAQ: SBUX) previously announced
plan to return $25 billion to shareholders in the form of share buybacks
and dividends through fiscal 2020, the Company is currently executing a
$5 billion accelerated share repurchase program (ASR) of the Company’s
common stock with the assistance of two financial institutions. The
Company used proceeds from the recently completed transaction with
Nestlé S.A. to execute the ASR, effective October 1, 2018. Initial
delivery of shares represented approximately 80% of the total shares
that will be repurchased under the ASR, which is expected to be
completed as early as February 2019 and no later than March 2019. The
total shares repurchased will be based on the volume weighted average
share price during the term of the ASR, less an agreed discount, and is
subject to certain adjustments under the agreements.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting high-quality arabica coffee. Today, with
more than 29,000 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 www.starbucks.com and
www.news.starbucks.com.
Forward-Looking Statements
Certain statements contained herein are “forward-looking” statements
within the meaning of the applicable securities laws and regulations.
Generally, these statements can be identified by the use of words such
as “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,”
“forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,”
“will,” “would,” and similar expressions intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. These statements are based on
information available to Starbucks as of the date hereof, and Starbucks
actual results or performance could differ materially from those stated
or implied, due to risks and uncertainties associated with its business.
These risks and uncertainties include, but are not limited to,
fluctuations in the U.S. and international economies and currencies, our
ability to preserve, grow and leverage our brands, potential negative
effects of incidents involving food or beverage-borne illnesses,
tampering, adulteration, contamination or mislabeling, potential
negative effects of material breaches of our information technology
systems to the extent we experience a material breach, material failures
of our information technology systems, costs associated with, and the
successful execution of, the company’s initiatives and plans, the
acceptance of the company’s products by our customers, the impact of
competition, as well as general economic and industry factors such as
coffee, dairy and other raw materials pricing and availability,
successful execution of internal performance and expansion plans, the
impact of initiatives by competitors, the effect of legal proceedings,
and other risks detailed in the Company’s filings with the Securities
and Exchange Commission, including the “Risk Factors” section of the
Company’s Annual Report on Form 10-K for the fiscal year ended
October 1, 2017. The Company assumes no obligation to update any of
these forward-looking statements.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181012005079/en/
Investor Relations, Starbucks:
Tom Shaw, 206-318-7118
investorrelations@starbucks.com
or
Media,
Starbucks:
Jaime Riley, 206-318-7100
press@starbucks.com
Source: Starbucks