Starbucks Blew $20 Billion on Share Buybacks and Dividends

On his first day as the new old interim CEO of Starbucks, which has been in the news for a series of successful union votes by frustrated employees, Howard Schultz told employees in a letter this morning that the company would end its share buyback program.

It promptly blew, wasted, and incinerated $3.5 billion in cash on buying back its own shares in Q4, according to its 10-Q filing. Since 2005, Starbucks has blown, wasted, and incinerated $30.8 billion on share buybacks, most of it ($22 billion) since 2017 under Kevin Johnson (data via YCharts).

Wolfstreet.com

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