Home Business Grocery store chain Costco declares particular dividend of $10 per share

Grocery store chain Costco declares particular dividend of $10 per share

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© Reuters. Photograph of the rear of a Costco membership card /American Specific bank card

(Reuters) – Membership-only grocery store chain Costco Wholesale Corp (O:) on Monday declared a particular dividend of $10 per share because it advantages from shoppers stocking up necessities as a result of COVID-19 pandemic, sending its shares up about 2% after the bell.

The dividend totaling $4.4 billion can be funded by means of present money. It is going to be paid on Dec. 11 and is the corporate’s fourth such payout in eight years.

Increased demand for contemporary produce, home equipment and gardening and sporting items has helped the warehouse chain document rising gross sales and site visitors at its shops, the place prospects sometimes purchase objects in bulk at decrease costs.

Individually, Warren Buffett’s Berkshire Hathaway Inc (N:) mentioned it has dissolved its stake in Costco and began new investments in drugmakers together with Pfizer (N:) and Merck (N:).

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