Friday 19 August 2022

Starbucks declares quarterly dividend, reopens locations for indoor dining in Shanghai

Must read

SEATTLE, USA – Starbucks Corporation yesterday announced that its Board of Directors has approved a dividend of $0.49 per share of outstanding Common Stock. The dividend will be payable in cash on August 26, 2022 to shareholders of record on August 12, 2022.

The dine-in experience resumed at most Starbucks locations across Shanghai yesterday, the first day indoor dining partially eased across the city.

The return of Starbucks third place experience at 800 stores in Shanghai marked another milestone in the company’s COVID journey, and the gradual return to normalcy in one of the most vibrant and dynamic cities in the world.

To celebrate the milestone and welcome customers back, coffee tastings – Starbucks signature coffee ritual – were held in all 800 stores.

Starbucks welcomes customers back for indoor dining in Shanghai, celebrates with coffee tastings

“Customers’ craving for Starbucks and longing for human reconnection have never been felt more keenly as we emerge from the most severe COVID resurgences in China,” said Starbucks China chief executive officer Leo Tsoi.

“Our 10,000 partners are excited to welcome customers back to the third place, as we resume dining-in services in 800 stores in the short space of 48 hours. It’s Starbucks modest contribution to help Shanghai customers return to their pre-outbreak routines and lifestyles, and get the city back to its renowned buzz and vibrancy.”

Among the stores to resume indoor dining is the Reserve Roastery Shanghai, which will also reopen its second floor Bar Mixato and Teavanna Bar for the first time since the city’s lockdown, enriching the third place experience to serve different customer occasions throughout the day

Since the two-month citywide lockdown was lifted in early June, the company has reopened nearly 900 stores in Shanghai, home to the most Starbucks stores in the world. However, dining-in services had remained suspended in most stores.

With the easing of dining-in restrictions, stores will be allowed to serve customers at 50 to 70 percent of seating capacity, depending on store size, in accordance with latest public health regulations. Operational requirements such as social distancing will also be rigorously implemented to protect the safety of Starbucks partners and customers.

Latest article