Costco to pay $2.2B dividend
Costco Wholesale Corp. on Friday said that its board of directors has declared a special dividend of $5 per share payable on Feb. 27. The aggregate payment of approximately $2.2 billion will be in addition to Costco’s regular quarterly cash dividend of .355 per share.
"Today's announcement of a $5 special dividend is our latest step in returning capital to our shareholders while maintaining our conservative capital structure,” Richard Galanti, Costco’s CFO, said in a statement. “Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend, while also preserving financial and operational flexibility to grow our business globally; and allowing for ongoing dividend and share repurchase activities."
The Issaquah, Wash.-based company paid a $7 special cash dividend to shareholders in December 2012.
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