Costco Wholesale Corporation Announces Reauthorization of Stock Repurchase Program and Quarterly Cash Dividend
January 19 2023 - 4:15PM
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 January 2027 and replaces the current $4 billion
program (adopted in 2019 and scheduled to expire April 2023), under
which approximately $1.4 billion had been purchased. The Board of
Directors also declared a quarterly cash dividend on Costco common
stock of 90 cents per share. The dividend is payable February 17,
2023, to shareholders of record at the close of business on
February 3, 2023.
Costco currently operates 847 warehouses,
including 583 in the United States and Puerto Rico, 107 in Canada,
40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea,
14 in Taiwan, 14 in Australia, four in Spain, two each in France
and China, and one each in Iceland, New Zealand and Sweden. 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,
inflation or deflation, 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 and
the Ukraine conflict), the ability to maintain effective internal
control over financial reporting, regulatory and other impacts
related to climate change, COVID-19 related factors and challenges,
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 |
|
David Sherwood, 425/313-8239 |
|
Josh Dahmen, 425/313-8254 |
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