Starbucks Corporation (NASDAQ: SBUX) is a coffee company sourcing and roasting premium Arabica coffee with more than 33,000 stores globally. In addition, the company is a popular retailer and roaster of specialty coffee globally. The company has announced that its board has approved a $045 per share dividend in outstanding common shares. The dividend will be payable to shareholders that will be on record as of 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 operation objectives and position the company on a clear path for growth. First, the company promoted John Culver to be the group president, North America, and COO. In addition, Michael Conway has been appointed group president, International, and Channel Development, while Michelle Burns will be the VP of Global Coffee, Tea and Cocoa. All the changes will take effect on June 28, 2021.
Starbucks Corporation (NASDAQ: SBUX) UK received a £4.4 million tax credit in the UK due to losses in 2020 despite the company’s US parent making a profit of $1.2 billion last year. The losses resulted from the coffee chain shutting all its 935t shops in the UK due to the pandemic leading to a sharp drop in revenues.
The company has a complex structure in Europe and, as a result, has faced criticism from tax campaigners regarding lack of transparency. The UK division made a total loss of £100 million from 2010 through 2020. It reported a profit in only four of the past eleven years, but according to tax experts, it is unclear whether that is a true reflection of Starbucks UK’s operations.
McDonald’s Corp (NYSE: MCD) is launching the first-ever loyalty programs from July following months of piloting. The company is joining rivals such as Yum Brand’s Taco Bell and Restaurant Brands International’s Popeyes to introduce a rewards program holding onto the digital customers the company gained over the pandemic. On Tuesday, Chipotle Mexican Grill announced an expansion of its current program to offer additional redemption alternatives to its members.
The fast-food chain started piloting the loyalty program in November and has been expanding it to other regions across the US. Although Mcdonald’s has a successful rewards program in countries such as France, this will be the first in the US. In April, McDonald’s US president Joe Erlinger said that the company’s digital sales were up almost $1.5 billion in Q1, including the mobile app, digital kiosks, and delivery platform s orders.