Starbucks boosts dividend by 8%

Starbucks Corp. SBUX, +3.36% announced Wednesday that it was boosting its quarterly dividend to 53 cents a share from 49 cents a share. The new dividend takes effect with the payment that’s set to be distributed Nov. 25. It applies to shareholders of record as of Nov. 11. The 8% dividend increase lifts Starbucks’ annual payout to $2.12 a share. The stock was up 0.1% in after-hours trading Wednesday after rising 3.4% in the regular session. It’s lost 26% so far this year as the S&P 500 SPX, +1.97% has dropped 22%.