Starbucks: Accelerated Share Repurchase Underway

Seattle / WA. (sc) Starbucks Corporation previously announced plan to return USD 25 billion to shareholders in the form of share buybacks and dividends through fiscal 2020, the Company is currently executing a USD 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 Nestle S.A. to execute the ASR, effective October 01, 2018. Initial delivery of shares represented approximately 80 percent 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.

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