SEATTLE, U.S. – Starbucks Corporation yesterday announced that its Board of Directors has approved a dividend of $0.45 per share of outstanding Common Stock. The dividend will be payable in cash on March 5, 2021 to shareholders of record on February 18, 2021.
Starbucks launches $100 million fund to support small business and community development projects
In other news, the Seattle-based coffee chain announced Tuesday new initiatives as part of its long-standing commitment to use its scale and platform to positively impact the communities it serves. The company will invest $100 million to launch the Starbucks Community Resilience Fund focused on supporting small businesses and community development projects in Black, Indigenous and People of Color (BIPOC) neighborhoods.
In addition, Starbucks is partnering with the Smithsonian’s National Museum of African American History and Culture (NMAAHC) to share the museum’s educational resources and digital volunteer opportunities.
The investments will initially focus on 12 U.S. metropolitan areas and their surrounding regions: Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle and Washington D.C.
The effort expands on Starbucks 2019 commitment to invest $10 million in four Chicago-based CDFIs: Accion Chicago, Chicago Community Loan Fund (CCLF), IFF and Local Initiatives Support Corporation (LISC).
“Starbucks has always been a company focused on caring for our partners, creating experiences for our customers and playing a positive role in our communities and throughout society,” said Kevin Johnson, Starbucks president and ceo. “We are excited to make this investment as it aligns with our Mission and Values and supports our aspiration to advance equity and opportunity in the communities we serve.”