Why Costco Stock Crushed the Market Today
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Costco Wholesale's stock surged nearly 3% following the announcement of a 12% dividend increase to $1.30 per share, set for distribution on May 16. This increase, while not making Costco an income stock compared to the S&P 500 average yield of 1.4%, reflects the company's consistent growth and commitment to rewarding shareholders. With over 20 years of annual dividend hikes, Costco aims to enhance investor appeal, suggesting more increases may follow as the company continues to perform well.
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