Costco Wholesale Corporation Declares Special Cash Dividend of $10 Per Share
November 16 2020 - 4:30PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) announced today that its Board of Directors has declared a
special cash dividend on Costco common stock of $10 per share,
payable December 11, 2020, to shareholders of record as of the
close of business on December 2, 2020. The aggregate payment will
be approximately $4.4 billion. The special dividend will be funded
through existing cash.
Richard Galanti, Executive Vice President and
Chief Financial Officer, commented: “This special dividend, our
fourth in eight years, is our latest step to reward shareholders.
Our strong balance sheet allows us to pay this dividend, while
preserving financial and operational flexibility to continue to
grow our business globally. Costco will continue to be in a
financial position to take care of our employees, enhance the value
of the Costco membership, and create shareholder value over the
long term.”
Costco currently operates 802 warehouses,
including 558 in the United States and Puerto Rico, 102 in Canada,
39 in Mexico, 29 in the United Kingdom, 27 in Japan, 16 in Korea,
13 in Taiwan, 12 in Australia, three in Spain, and one each in
Iceland, France, and China. Costco also operates e-commerce sites
in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan,
Japan, and Australia.
Certain statements contained in this document
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. For these
purposes, forward-looking statements are statements that address
activities, events, conditions or developments that the Company
expects or anticipates may occur in the future. In some cases
forward-looking statements can be identified because they contain
words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “seek,” “should,” “target,”
“will,” “would,” or similar expressions and the negatives of those
terms. Such forward-looking statements involve risks and
uncertainties that may cause actual events, results or performance
to differ materially from those indicated by such statements. These
risks and uncertainties include, but are not limited to, domestic
and international economic conditions, including exchange rates,
the effects of competition and regulation, uncertainties in the
financial markets, consumer and small business spending patterns
and debt levels, breaches of security or privacy of member or
business information, conditions affecting the acquisition,
development, ownership or use of real estate, capital spending,
actions of vendors, rising costs associated with employees
(generally including health-care costs), energy and certain
commodities, geopolitical conditions (including tariffs), the
ability to maintain effective internal control over financial
reporting, COVID-19 related factors and challenges, including
(among others) the duration of the pandemic, the unknown long-term
economic impact, reduced shopping due to illness, travel
restrictions or financial hardship, shifts in demand away from
discretionary or higher-priced products, reduced workforces due to
illness, quarantine, or government mandates, temporary store
closures due to reduced workforces or government mandates, or
supply-chain disruptions, capacity constraints of third-party
logistics suppliers, and other risks identified from time to time
in the Company’s public statements and reports filed with
the Securities and Exchange Commission. Forward-looking
statements speak only as of the date they are made, and the Company
does not undertake to update these statements, except as required
by law.
CONTACTS: |
Costco
Wholesale Corporation |
|
Richard Galanti, 425/313-8203 |
|
Bob Nelson, 425/313-8255 |
|
David Sherwood, 425/313-8239 |
|
Josh Dahmen, 425/313-8254 |
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