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Starbucks Pledges $20 Billion in Dividends, Buybacks After Sales Miss

A Starbucks coffee shop in San Francisco, California.

A Starbucks coffee shop in San Francisco, California.

Photographer: David Paul Morris/Bloomberg

Starbucks Corp. reported quarterly sales that trailed estimates, showing looser pandemic measures aren’t bolstering results as much as investors expected. The company also announced $20 billion of new dividends and share buybacks over the next three years.