Costco Ups Stock Repurchase Program to $4B

April 26, 2011  by in UnCategorized   

By Home Furnishings Business in Financial Reports on April 27, 2011

Costco Wholesale Corp. (NASDAQ: COST) has approved a common stock repurchase program of up to $4 billion.

The program will expire April 2015 and replaces the existing program, which has unused authorization of about $800 million. The existing program expires in July.

In addition, the retailer's board declared a quarterly cash dividend on Costco common stock and approved a quarterly increase from $.205 to $.24 per share. The dividend is payable May 27 to shareholders of record on May 13.