Costco Wholesale Corp said on Wednesday it would raise its quarterly dividend by 7.7per cent to 70 cents per share, at a time when several major ...
Costco Wholesale Corp said on Wednesday it would raise its quarterly dividend by 7.7per cent to 70 cents per share, at a time when several major companies have suspended cash returns to shareholders to shore up liquidity.
FILE PHOTO: Customers queue to enter a Costco Wholesalers in Chingford, Britain March 15, 2020. REUTERS/John SibleyREUTERS: Costco Wholesale Corp said on Wednesday it would raise its quarterly dividend by 7.7per cent to 70 cents per share, at a time when several major companies have suspended cash returns to shareholders to shore up liquidity.
Unlike the rest of corporate America, which has been hammered by the coronavirus crisis, grocery retailers and some packaged-food companies have seen sales surge in recent weeks, as consumers stockpile household essentials to weather strict lockdowns across the United States.Costco, which last week reported a 9.6per cent jump in March comparable sales, joins Procter & Gamble and Johnson & Johnson which also raised their dividends earlier this week.
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