Starbucks sees key sales measure rise, profit increase

NEW YORK – Starbucks reported a 23 percent increase in its fourth-quarter profit Thursday, thanks to rising sales at its coffee shops and benefiting from an extra week in the period.

The results beat Wall Street expectations, and it announced a 25 percent increase in its dividend. Starbucks shares rose 1 percent after the market closed.

The Seattle-based company said its fourth-quarter sales rose 5 percent at established stores in the Americas, which includes the U.S., its biggest market. That increase was above the 4.9 percent rise analysts expected. Global sales rose 4 percent at established stores, which was below the 4.9 percent increase analysts expected.

Overall, Starbucks reported net income of $801 million, or 54 cents per share, in its fiscal fourth quarter. Adjusted earnings came to 56 cents per share, beating the 55 cents per share analysts expected. Revenue rose 16 percent to $5.71 billion, beating the $5.69 billion analysts expected.

Starbucks said Thursday that it will pay shareholders a dividend of 25 cents starting next month, up from 20 cents.

Starbucks Corp. rose 57 cents to $52.34 after the market close.