Starbucks Declares 2-for-1 Stock Split

(RTTNews) - Starbucks Corp. (SBUX) said Wednesday that its Board of Directors has declared a two-for-one stock split.

Shareholders of record as of March 30 will receive one additional share for each share held on the record date. The new shares will be payable on April 8. Starbucks common stock will begin trading on a split-adjusted basis on April 9.

This is the sixth two-for-one split of the company's common stock since its initial public offering in 1992; the previous stock split occurred in October 2005.

"Adjusting for the stock split effectively has the impact of modestly increasing our earnings guidance for the second quarter and for fiscal 2015," noted Scott Maw, chief financial officer of Starbucks.

On a split adjusted basis, the company's previously announced GAAP and adjusted earnings per share targets equate to GAAP EPS of $0.32 and adjusted EPS of $0.32 to $0.33 for the second quarter of fiscal 2015, and GAAP EPS of $1.77 to $1.79 and adjusted EPS of $1.55 to $1.57 for the full fiscal year 2015.

Starbucks plans to report its second quarter financial results on April 23.