Starbucks Corporation (NASDAQ: SBUX) is a coffee company that sources and roasts premium Arabica coffee with more than 33,000 stores worldwide. Additionally, the company is a popular specialty coffee retailer and roaster around the world. The company announced that its board of directors has approved a dividend of $ 45 per share in outstanding common stock. The dividend will be payable to shareholders who will be entered in the register on August 12, 2021 and they will receive their cash on August 27, 2021.
Starbucks Corporation (NASDAQ: SBUX) announced several leadership changes to advance its strategic operational goals and position the company on a clear path for growth. First, the company promoted John Culver to Group President, North America and COO. Additionally, Michael Conway has been appointed Group President, International and Channel Development, while Michelle Burns will serve as Vice President of Global Coffee, Tea and Cocoa. All changes will take effect on June 28, 2021.
Starbucks Corporation (NASDAQ: SBUX) UK received a £ 4.4million UK tax credit due to losses in 2020 despite the fact that the company’s US parent company made a profit of $ 1 , $ 2 billion last year. The losses result from the coffee chain closing all of its 935-ton stores in the UK due to the pandemic, resulting in a sharp drop in revenues.
The company has a complex structure in Europe and, as a result, has been criticized by tax activists for lack of transparency. The UK division recorded a total loss of £ 100million from 2010 to 2020. It has only recorded profits in four of the last eleven years, but according to tax experts it is not clear whether this accurately reflects the Starbucks UK operations.
McDonald’s Corp (NYSE: MCD) launches the first loyalty programs from July after months of piloting. The company joins with competitors such as Taco Bell of Yum Brand and Popeyes of Restaurant Brands International to introduce a rewards program holding the digital customers that the company has acquired during the pandemic. On Tuesday, Chipotle Mexican Grill announced an extension of its current program to offer additional buyout alternatives to its members.
The fast food chain began piloting the loyalty program in November and expanded it to other parts of the United States. Although McDonald’s has a successful rewards program in countries like France, it will be the first in the United States. In April, McDonald’s U.S. President Joe Erlinger said the company’s digital sales increased by nearly $ 1.5 billion in the first quarter, including orders for mobile apps, digital kiosks and delivery platforms.