Starbucks (SBUX) announces 2 for 1stock split, delivery plans
Starbucks (SBUX) announced a 2 for 1 stock split on Wednesday during its annual shareholder meeting. Starbucks shareholders who hold the stock as of March 30 will get one additional share for each one they have.
Ted S. Warren/AP
Shareholders who hold the stock as of March 30 will get one additional share for each one they have, and the new shares will be payable April 8 and begin trading on split adjusted basis on April 9.
Starbucks stock traded nearly flat in intraday trade on Wednesday at $94 per share. (Click here to track Starbucks stock.)
This marks the company's sixth split overall and the first since October 2005.
The coffee giant also outlined new details about its delivery plans.
Work in Seattle or New York City? Good news: trekking from the office to Starbucks for a caffeine jolt could be optional as soon the second half of the year.
Starbucks will have optional delivery for a small fee as part of two programs that it will be testing in the two cities:
In some parts of Seattle, Starbucks customers can order on its mobile app and get food and beverage items delivered as part of a collaboration with on-demand delivery service firm Postmates. Couriers will deliver the items.
Meanwhile in New York, customers in certain office buildings can get food and beverage items delivered by Starbucks baristas.
Tune in: Starbucks CEO Howard Schultz will be on CNBC's "Mad Money" at 6 p.m. ET.
Correction: This article has been corrected to reflect the last time Starbucks split its stock and the price of the delivery service.