Costco(NASDAQ:COST) has announced today it is rewarding investors with a special dividend worth $10 per share. The payment will be the fourth time in the last eight years that the company has paid a special dividend. 

Costco previously announced its regular quarterly cash dividend of $0.70 per share on Oct. 14. The special $10 dividend represents a 2.6% return on Monday's closing share price of $379.79. 

The payment will cost the company about $4.4 billion, and will be paid using existing cash. "Our strong balance sheet allows us to pay this dividend, while preserving financial and operational flexibility to continue to grow our business globally," CFO Richard Galanti said. 

The company recently reported its October net sales increased 15.9% versus the prior-year period. As with other retailers during the pandemic, Costco has experienced strong e-commerce sales growth. It said comparable online sales grew more than 91% for the month of October. This continued a surge that began during the pandemic. For its full fiscal year, which ended Aug. 30, e-commerce sales grew 50% year over year.

More in category

Opinion: 7 reasons why energy stocks will be 60% higher a year from now
November 20, 2020MarketWatch
Opinion: 7 reasons why energy stocks will be 60% higher a year from now
Opinion: Another bullish factor for the S&P 500: strong seasonal trends come with Thanksgiving turkey
November 23, 2020MarketWatch
Opinion: Another bullish factor for the S&P 500: strong seasonal trends come with Thanksgiving turkey
Tesla could be the next trillion-dollar stock
November 23, 2020MarketWatch
Tesla could be the next trillion-dollar stock
It’s 2:30 a.m. in Wyoming: ‘You’re holding a smartphone to let a husband say goodbye to his wife via FaceTime after 60 years of marriage’
November 23, 2020MarketWatch
It’s 2:30 a.m. in Wyoming: ‘You’re holding a smartphone to let a husband say goodbye to his wife via FaceTime after 60 years of marriage’
Biden picks Yellen for Treasury secretary: WSJ
November 23, 2020MarketWatch
Biden picks Yellen for Treasury secretary: WSJ
Micron stock surges to highest prices since the dot-com boom as analysts see cloud demand improving
November 23, 2020MarketWatch
Micron stock surges to highest prices since the dot-com boom as analysts see cloud demand improving
Yellen, pushed aside by Trump, returns to center stage of economic policy
November 23, 2020MarketWatch
Yellen, pushed aside by Trump, returns to center stage of economic policy
Politicizing masks ‘is like politicizing toilet paper,’ Biden coronavirus adviser says
November 23, 2020MarketWatch
Politicizing masks ‘is like politicizing toilet paper,’ Biden coronavirus adviser says
Elon Musk is now world’s second-richest person, as net worth has grown more than $100 billion this year
November 23, 2020MarketWatch
Elon Musk is now world’s second-richest person, as net worth has grown more than $100 billion this year
American households could lose $226 billion. It might be up to Wall Street to get Washington to act
November 20, 2020MarketWatch
American households could lose $226 billion. It might be up to Wall Street to get Washington to act
Opinion: To get the most college financial aid, you need to plan 2 years ahead
November 23, 2020MarketWatch
Opinion: To get the most college financial aid, you need to plan 2 years ahead
RCMP officer denies he tried to get Meng Wanzhou phone passcodes
November 23, 2020FOX Business
RCMP officer denies he tried to get Meng Wanzhou phone passcodes
Amazon's unveils tracking, pick-up options, holiday season 'spoiler-free'
November 23, 2020FOX Business
Amazon's unveils tracking, pick-up options, holiday season 'spoiler-free'
Dow ends 327 point higher after Janet Yellen reported as Biden’s Treasury secretary pick
November 23, 2020MarketWatch
Dow ends 327 point higher after Janet Yellen reported as Biden’s Treasury secretary pick
Asia is leading the way in travel recovery, says bookings platform Agoda
November 23, 2020CNBC
Asia is leading the way in travel recovery, says bookings platform Agoda
Why Blink Charging, Li Auto, and Kandi Technologies Rose Monday
November 23, 2020The Motley Fool
Why Blink Charging, Li Auto, and Kandi Technologies Rose Monday
I’m a 57-year-old nurse with no retirement savings and I want to retire within seven years. What can I do?
November 16, 2020MarketWatch
I’m a 57-year-old nurse with no retirement savings and I want to retire within seven years. What can I do?
Biden to name Yellen to Treasury to lead U.S. from sharp economic downturn
November 23, 2020Reuters
Biden to name Yellen to Treasury to lead U.S. from sharp economic downturn
Japan's ANA shares drop on report airline to raise $1.9 billion in share sale
November 23, 2020Reuters
Japan's ANA shares drop on report airline to raise $1.9 billion in share sale
BlackRock to buy Aperio for $1.05 billion from Golden Gate Capital, employees
November 23, 2020Reuters
BlackRock to buy Aperio for $1.05 billion from Golden Gate Capital, employees
Jim Cramer unveils list of 'return to normalcy' stocks to buy on vaccine optimism
November 23, 2020CNBC
Jim Cramer unveils list of 'return to normalcy' stocks to buy on vaccine optimism