Starbucks Announces Plans For Expansion in Asia (SBUX)
Coffee retail giant Starbucks Corporation (SBUX) reaffirmed its plan to expand its reach in Asia on Thursday, as the company announced that it will open 100 new stores in Indonesia and the Philippines over the next four years
CEO Howard Schultz backed his commitment to invest in the Southeast Asia market following a visit with partners and customers in Indonesia and the Philippines.
Starbucks first entered the Southeast Asia market in 1996 when it opened a store in Singapore. Now, the company operators more than 700 stores in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
“With a population of more than 600 million people, an emerging middle class that is driving strong consumption and a robust and resilient economy, Southeast Asia presents a compelling growth opportunity for Starbucks,” said Schultz. “Never before have Starbucks prospects in this region been so exciting. As we ramp up our ambitious, yet disciplined, growth momentum across Southeast Asia, we will continue to build the Starbucks brand through the lens of humanity – supporting local coffee farmers and the neighborhoods we serve, while also investing in the growth and development of our partners.”
Starbucks shares were up a fraction during Thursday morning trading. The stock is up +7.44% year-to-date.
The Bottom Line
Shares of Starbucks Corporation (SBUX) have a dividend yield of 1.46% based on last night’s closing price of $57.70 and the company’s annualized dividend payout of 84 cents per share.
Starbucks Corporation (SBUX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Get FREE Dividend Tips, Updates & MoreWe respect your privacy
- Powerful dividend insights sent every weekday morning
- Gain instant access to actionable investing tips
- Strategically grow your portfolio’s profitability