>Starbucks Spills Dividend On Shareholders

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>Starbucks shares slipped up in a heavily traded session Wednesday after the coffee retailer announced its first-ever dividend.

The Seattle-based company will pay out 10 cents a share on April 23 to shareholders on record as of April 7. Going forward, the company said it is targeting a dividend payout range of 35% to 40% of net income. Starbucks ( SBUX – news – people ) also announced that it would buy back 15 million shares, in addition to the 6.3 million authorized under a previous repurchase plan.

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