Nov 28 U.S. retailer Costco Wholesale Corp
is to pay a special dividend of $7.00, worth a total
$3.0 billion to investors, it said when posting monthly
same-store sales that beat forecasts.
"Our strong balance sheet and favourable access to the
credit markets allow us to provide shareholders with this
dividend," chief financial officer Richard Galanti said in a
statement on Wednesday.
On Nov. 19, Costco's bigger rival Wal-Mart Stores
moved its planned dividend into late December from early January
to help shareholders avoid a looming jump in the tax rate due to
the so-called fiscal cliff.
Costco's special dividend will be paid on Dec. 18, with the
record date set at Dec. 10.
November sales at Costco stores open at least a year rose 6
percent, helped by higher gasoline prices and dollar weakness,
the company said. That compared with a forecast for 5.4 percent,
according to Thomson Reuters data.
Excluding the effects of fuel and currency, Costco posted a
November same-store sales increase of 5 percent. Net sales rose
9 percent to $8.15 billion in the four weeks to Nov. 25.