Starbucks increases quarterly dividend by 7% while preliminary Q3 sales decline by 7%.

Starbucks announced a 7% increase in its quarterly dividend to $0.61 per share, marking its 14th consecutive annual raise. However, shares fell due to disappointing preliminary Q3 results, showing a 7% decline in global comparable-store sales and a 3% drop in net revenue. New CEO Brian Niccol aims to revitalize the brand, focusing on core values and customer experience, with upcoming earnings calls expected to clarify strategies for growth.

October 26, 2024
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