9.5.2005: Meldung: Starbucks Corp.: Additional Stock Repurchase Authorization
"Starbucks business performance continues to generate strong cash flow, which enables us to execute further share buybacks, along with the ongoing investment in our growth strategy. This additional authorization to repurchase stock reflects the continued commitment by both the Board of Directors and Starbucks leadership team to pursuing opportunities that return value to our shareholders," stated Michael Casey, chief financial officer.
Shares will be repurchased in the open market at times and amounts considered appropriate by the Company based on factors including price and market conditions. Additionally, the Company"s Board of Directors has authorized that purchases can be made under Rule 10b5-1 of the Securities Exchange Act of 1934. A Rule 10b5-1 plan allows Starbucks to repurchase its shares during periods when the Company would normally not be active in the market due to its own internal trading blackout periods. All such purchases must be made according to a predefined plan that is established when the Starbucks plan administrator is not aware of material non-public information.
Starbucks Corporation is the leading retailer, roaster and brand of specialty coffee in the world, with more than 9,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering the highest quality coffee and the Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business. In addition to its retail operations, the Company produces and sells bottled Frappuccino? coffee drinks, Starbucks DoubleShot? coffee drink, and a line of superpremium ice creams through its joint venture partnerships. The Company"s brand portfolio provides a wide variety of consumer products. Tazo? Tea"s line of innovative superpremium teas and Hear Music"s(TM) exceptional compact discs enhance the Starbucks Experience through best-of-class products. The Seattle"s Best Coffee? and Torrefazione Italia? Coffee brands enable Starbucks to appeal to a broader consumer base by offering an alternative variety of coffee flavor profiles.
Starbucks Contact, Investor Relations:
Mary Ellen Fukuhara, 206-318-4025
Starbucks Contact, Media:
Lara Wyss, 206-447-7950 ext. 52690
Source: Starbucks Corporation