Costco To Pay Special Dividend Of $3.1 Bln, Hikes Quarterly Dividend

(RTTNews) - Costco Wholesale Corp. (COST) said that its board has declared a special cash dividend on Costco common stock of $7.00 per share, payable May 26, 2017, to shareholders of record at the close of business on May 10, 2017. The aggregate payment will be about $3.1 billion.

The special dividend will be funded primarily through additional borrowings. The special dividend will be in addition to the Company's regular quarterly cash dividend of 50 cents per share that was also declared today, which will also be payable on May 26, 2017, to shareholders of record at the close of business on May 12, 2017. That amount represents a quarterly increase of 5 cents per share.