Discount retailer, Costco Wholesale Corporation (COST) reported that it has increased its quarterly dividend by 12.7% on Wednesday.
Costco announced that it has raised its quarterly dividend from 27.5 cents to 31 cents, or $1.24 annually.
The company’s next dividend will be payable on May 31 to shareholders of record on May 17. The stock has an ex-dividend date of May 15.
Costco shares were down 63 cents, or -0.58% during premarket trading Wednesday. The stock has increased 22% in the past year.
The Bottom Line
Shares of Costco Wholesale Corporation (COST) will now have a 1.14% yield, based on the higher dividend payout and Tuesday’s closing price of $108.43.
Costco Wholesale Corporation (COST) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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