By Michael Dabaie

Starbucks Corp. (SBUX) said Wednesday it entered into a $2 billion accelerated share repurchase program.

Initial delivery of shares represents about 80% of the total shares estimated to be repurchased under the program, which is expected to be completed no later than June, Starbucks said.

The company said it has returned $14 billion toward its previously announced commitment to return $25 billion to shareholders via buybacks and dividends over a three-year period through fiscal 2020.

Shares were up 0.8% premarket.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

March 20, 2019 09:35 ET (13:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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