Costco to pay special $5 dividend

Issaquah, Wash. -- Costco Wholesale Corp. has declared a special one-time dividend of $5 per share that will result in approximately $2.2 billion being returned to shareholders.



In its mostly recently reported quarter, Costco posted a 17% increase in profits, driven by lower gasoline prices and strong growth in store sales and membership fees.



"Today's announcement of a $5.00 special dividend is our latest step in returning capital to our shareholders while maintaining our conservative capital structure,” said Richard Galanti, executive VP and CFO. “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."