The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Starbucks Corporation (NASDAQ:SBUX) is included among the 13 NASDAQ Stocks with Highest Dividends.

On April 2, Reuters reported that Starbucks Corporation (NASDAQ:SBUX) had closed its deal with Boyu Capital to sell control of its China operations, the Seattle-based coffee company said on Thursday. The outline of the deal had first been announced in November. It is aimed at restarting growth in the world’s second-largest economy, where local competitors such as Luckin Coffee and Cotti Coffee have been gaining share with lower prices.

Funds managed by Boyu will take a 60% stake in Starbucks’ China business. Starbucks will keep the remaining stake and continue to license its brand and intellectual property to the new venture. The firm also noted that Boyu’s founders include the grandson of former Chinese President Jiang Zemin. Molly Liu said in a statement that the deal would drive “hyper-localization” of the brand in China.

China currently has around 8,000 Starbucks stores. The company plans to expand that number to 20,000 stores in partnership with Boyu.

Starbucks Corporation (NASDAQ:SBUX) is a global roaster, marketer, and retailer of specialty coffee. Its North America segment includes the United States and Canada, while its International segment spans China, Japan, Asia Pacific, Europe, the Middle East and Africa, Latin America, and the Caribbean.

While we acknowledge the potential of SBUX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 15 Blue Chip Stocks with Highest Dividends and 15 Best Cheap Dividend Stocks to Buy

Disclosure: None. Follow Insider Monkey on Google News.