Costco Wholesale Corporation Announces Reauthorization of Stock Repurchase Program and Quarterly Cash Dividend Increase
April 26 2019 - 4:36PM
Costco Wholesale Corporation ("Costco" or the
"Company") (NASDAQ: COST) today announced that its Board of
Directors has reauthorized a common stock repurchase program of up
to $4 billion. This program will expire in April 2023 and replaces
the current $4 billion program (which expired earlier this month),
which had unused authorization of approximately $2.2 billion. The
Board of Directors also declared a quarterly cash dividend on
Costco common stock, including a quarterly increase from 57 to 65
cents per share, or $2.60 per share on an annualized basis. The
dividend is payable May 24, 2019, to shareholders of record at the
close of business on May 10, 2019.
Costco currently operates 770 warehouses,
including 535 in the United States and Puerto Rico, 100 in Canada,
39 in Mexico, 28 in the United Kingdom, 26 in Japan, 15 in Korea,
13 in Taiwan, 10 in Australia, two in Spain, and one each in
Iceland and France. Costco also operates e-commerce sites in the
U.S., Canada, the United Kingdom, Mexico, Korea, and Taiwan.
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,” “may,” “might,” “likely,” “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 remediate material
weaknesses in internal control, 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 CorporationRichard Galanti,
425/313-8203Bob Nelson, 425/313-8255David Sherwood,
425/313-8239Josh Dahmen, 425/313-8254
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