BOSTON ( TheStreet) -- Starbucks (SBUX) announced a 30% increase to its quarterly dividend as the coffee company reported fiscal third-quarter earnings that matched consensus targets, although shares lost ground during Thursday's trading session.
Starbucks upped its quarterly cash dividend to 13 cents per share from 10 cents, boosting the annualized dividend yield to 2.09% from 1.61%. The new dividend will be paid on Aug. 20 to shareholders of record at the close of business on Aug. 4.
The dividend announcement came as Starbucks reported a fiscal third-quarter profit of 29 cents a share on revenue of $2.61 billion, compared with the Thomson Reuters consensus target for revenue of 29 cents a share on revenue of $2.55 billion. Looking ahead, the company projected a full-year profit for fiscal 2010 that is below consensus targets.
Starbucks Stock Rating Report
(SBUX) Rating and Financial Analysis
Shares of Starbucks were lately down 29 cents, or 1.2%, to $24.88.Elsewhere, Kinder Morgan Energy Partners (KMP) shares slipped 0.3% to $68.69 even as the company increased its quarterly distribution to $1.09 per share from $1.05 in the year-ago period and $1.07 in the first quarter. The distribution is payable on Aug. 13 to unitholders of record as of July 30.
|Kinder Morgan Stock Rating Report (KMP) Rating and Financial Analysis|
|Targa Resources Stock Rating Report (NGLS) Rating and Financial Analysis|
|Diamond Offshore Stock Rating Report (DO) Rating and Financial Analysis|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV