Starbucks announces two-for-one stock split

Starbucks Corporation 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 that date. “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,” said Howard Schultz, Chairman and CEO of Starbucks Corporation, in a statement. “It also takes place at a time when Starbucks shareholders are experiencing an all-time high in value and, in turn, record profits and revenue.” This is the sixth two-for-one split of the company’s common stock since its initial public offering in 1992. Its previous stock split occurred in October 2005. “Adjusting for the stock split effectively has the impact of modestly increasing our earnings guidance for the second quarter and for fiscal 2015,” said Scott Maw, Chief Financial Officer of Starbucks Corporation, in a statement. The new shares will be payable on 8 April 2015. Starbucks common stock will begin trading on a split-adjusted basis on 9 April 2015. In light of share adjustments, the company is updating its financial year 2015 earnings per share target. Starbucks said it is neither updating nor reaffirming any other financial year 2015 targets at this time. Starbucks is planning to report its fiscal second quarter 2015 financial results on 23 April 2015.