21 September 2023 I Seattle, WA

The board of directors of Starbucks Corporation (Nasdaq: SBUX) has declared a regular quarterly dividend of $0.57 per common share, an increase of approximately 7.5% from the previous quarterly dividend of $0.53.

For calendar year 2023, this marks the twentieth dividend change for the Washington Crossing Advisors Rising Dividend portfolio. All twenty changes were increases. The average dividend increase is 6.14% compared with December 31, 2022 indicated levels.

Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had no change in dividend.

From the press release: “Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors approved an increase in the company’s quarterly cash dividend from $0.53 to $0.57 per share of outstanding Common Stock. This increase will be effective with the dividend payable on November 24, 2023, to shareholders of record on November 10, 2023, and raises the company’s annual dividend rate to $2.28 per share.

Starbucks initiated its dividend in 2010 at $0.05 per share of outstanding Common Stock, and increased its dividend consecutively each year over the past 13 years at a CAGR of approximately 20%.”1

About the company: “Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 37,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at https://stories.starbucks.com or www.starbucks.com.”1

Link to Announcement

IMPORTANT DISCLOSURES: The securities discussed herein do not represent all of the securities held by the WCA Rising Dividend Portfolio as of the date presented and are subject to change at any time, without notice. A complete list of holdings as of the date noted above will be provided upon request. The above is presented to illustrate the application of the strategy only and not intended as personalized recommendations of any particular security. The securities identified and described above do not represent all of the securities purchased, sold, or recommended for client accounts. You should not assume that an investment in any of the securities identified was or will be profitable. Changes in market conditions or a company’s financial condition may impact the company’s ability to continue to pay dividends. Companies may also choose to discontinue dividend payments. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. It is important to review your investment objectives, risk tolerance and liquidity needs before choosing an investment style or manager. Equity investments are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors to varying degrees. Fixed Income investments are subject to market, market liquidity, issuer, investment style, interest rate, credit quality, and call risks, among other factors to varying degrees.