Costco increased its quarterly dividend from 50 cents to 57 cents a share.
Costco shareholders will see their quarterly dividend increase to 57 cents per share next month. The Issaquah-based club warehouse retailer said Tuesday it would boost the quarterly cash payout from 50 cents a share.
Shares of Costco stock turned slightly upward in after-hours trading Tuesday after closing the regular session down a bit to $192.51.
People who own Costco stock at the close of business May 11 will be paid the dividend May 25.
In early March, Costco paid a quarterly dividend of 50 cents a share, as it had for the prior three quarters. Last year at this time, it also announced a $7-a-share special dividend, financed by borrowing, underscoring the company’s financial strength.
That strength has continued as Costco has largely bucked the broader troubles of physical retailers. Earlier this month, Costco said sales during the March retail month (a five-week period ending ended April 8) had increased 10.9 percent to $12.9 billion. Sales at stores open a year or more were up 8.6 percent and e-commerce sales grew 33.2 percent.