Why Is Starbucks Stock Down After Raising Its Dividend to an All-Time High?

Starbucks has become a reliable stock for generating passive income. On Oct. 22, Starbucks (SBUX 0.17%) announced its 14th consecutive annual dividend increase, boosting the quarterly payout by 7% to $0.61 per share or $2.44 per share per year. Starbucks started as a growth stock but has since transformed into a highly reliable dividend stock with a forward yield of 2.6%. The dividend has become a core part of Starbucks' investment thesis. Like clockwork, investors have been able to count on annual raises e ...