Costco +3% amid that special feeling
Seeking Alpha
Published Apr 26, 2017 09:15AM ET
Costco +3% amid that special feeling
- Shares of Costco (NASDAQ:COST) are higher in early trading as investors jump on the company's new $7 per share special dividend and quarterly dividend boost.
- The company is funding the special dividend payout primarily through new borrowings.
- "Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend, while preserving financial and operational flexibility to continue to grow our business globally," noted CFO Richard Galant.
- CNBC observes that the only other S&P 500 index company to pay out a special dividend this year is Ford.
- Previously: Costco Wholesale Corporation reports special cash dividend and increase in quarterly cash dividend (April 25)
- COST +3.31% premarket to $178.40 vs. a 52-week range of $138.57 to $178.71.
- Now read: Costco And Target - Loving One, Hating One, Buying Neither
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