Costco Wholesale Corp. will pay shareholders a special dividend of $10 per share, the company’s board of directors announced Monday.

The $4.4 billion payout, which will be made to shareholders of record as of Dec. 2, is the fourth special dividend issued by the board in the past eight years. Shareholders were most recently awarded a special dividend in April 2017.

“Our strong balance sheet allows us to pay this dividend, while preserving financial and operational flexibility to continue to grow our business globally,” Costco CEO Richard Galanti said in a statement.

ELON MUSK'S TESLA JOINING THE S&P 500

The Issaquah, Washington-based wholesaler on Sept. 24 reported its fourth-quarter profit rose 25% year-over-year to $1.39 billion, or $3.13 per share. Sales at stores open at least 12 months rose 14% as shoppers loaded up on groceries and cleaning supplies and splurged on home furnishings.

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