Costco Wholesale Corp. said Wednesday that it has raised its quarterly dividend by 13.3%.
The wholesale warehouse retail chain said its board of directors increased the cash dividend to $1.02 a share from 90 cents a share.
The new payout, equal to $4.08 a year, represents an annual yield of about 0.8%, based on Wednesday’s closing price of $496.03.
The dividend is payable May 19 to shareholders of record at the close of business on May 5.