Costco Wholesale has declared a special dividend of $10 a share.
The dividend, which will cost the retailer (ticker: COST) about $4.4 billion, will be paid to shareholders of record as of the close of business on Dec. 2. The company announced the move after the closing bell on Monday.
“This special dividend, our fourth in eight years, is our latest step to reward shareholders,” CFO Richard Galanti said Monday. “Our strong balance sheet allows us to pay this dividend, while preserving financial and operational flexibility to continue to grow our business globally.”
The stock sports a small yield of about 0.7%, compared with about 1.6% for the S&P 500. In April, the company declared a quarterly dividend of 70 cents a share, up by 5 cents, for an increase of nearly 8%--a sign of Costco’s durability during the pandemic.
Even during the recent Covid-related economic downturn, there has been much speculation about when Costco would issue its next special. It hadn’t done so since April 2017 when it declared one for $7 a share. It declared another one in early 2015 for $5 a share. And it issued one for $7 a share in 2012.
The company said that its latest special will be funded by existing cash.
For the most part, special dividends are rare. About 2% of the companies in the Russell 3000 Index have paid one this year.
RMCF was a bloodbath for me this year. It's a retailer that works mostly in tourist areas, so it got hit from multiple directions. I was pondering selling it all for a bit because I was curious if it was going to survive. But with the good vaccine news it's up about 30 percent in the last couple of weeks. I'm starting to dribble money into it in the hopes that I can make money on the way up to offset my losses. I'm a bit nervous about it, though. [Reply]
Originally Posted by Rain Man:
RMCF was a bloodbath for me this year. It's a retailer that works mostly in tourist areas, so it got hit from multiple directions. I was pondering selling it all for a bit because I was curious if it was going to survive. But with the good vaccine news it's up about 30 percent in the last couple of weeks. I'm starting to dribble money into it in the hopes that I can make money on the way up to offset my losses. I'm a bit nervous about it, though.
On a side note I saw on the National news this morning how the Cruise lines are going to try firing back up. They are using volunteer passengers to experiment with the protocols they have to make it work. [Reply]
Originally Posted by Hog's Gone Fishin:
On a side note I saw on the National news this morning how the Cruise lines are going to try firing back up. They are using volunteer passengers to experiment with the protocols they have to make it work.
Just imagine being trapped on a boat with a bunch of people who would volunteer for this. [Reply]
Originally Posted by Hog's Gone Fishin:
Done. thanks. Looks like it closed at 11.18 on 09/28/ That gives it 12.70% for the time frame
The list now consists of:
SOLO 171%
NIO 140%
XPEV 120%
LI 94%
BYDDF 72% Berkshire Hathway has a big stake in this one
FSR 22%
DRIV 21%
Kars 21%
GP 12%
TSLA -3.25%
WKHS -29%
HYLN -51%
Added SOLO to this EV watch list . It's up 171% since 9/28 :-)
I'd kind of like to have one of their cars just to run errands around town but I just imagine getting smashed between two semi's . No thanx! [Reply]
