Costco Wholesale declared a special cash dividend of $30 a share on Tuesday, a payout the company put at about $13.3 billion. Its shares rose about 1.9% in extended trading, to $1,086 at 7:30 p.m. Eastern time, after closing the regular session at $1,066.14, little changed from $1,066.18 on Monday.
The dividend is payable on Dec. 4 to shareholders of record at the close of business on Nov. 24, the company said. Its board also reauthorized a stock buyback program of up to $4 billion that runs until November 2030. It replaces a $4 billion program adopted in 2023 and scheduled to expire in January 2027, under which Costco had bought back $3.1 billion of stock.
The payout is the largest special dividend in Costco’s history and its first since a $15 special dividend declared in December 2023. The retailer also declared special dividends of $10 a share in 2020, $7 in 2017, $5 in 2015 and $7 in 2012.
The $30 dividend equals about 2.8% of Tuesday’s closing share price. It comes on top of Costco’s regular quarterly dividend.
Costco operates 945 warehouses, including 653 in the United States and Puerto Rico and 115 in Canada.
…
That’s the story. … Thank you for listening to Cedar Global Markets. We’re supported by our partners, and you can learn more about the partner featured on this page. We’ll see you next time.
