Costco Hikes Its Dividend: What Income Investors Need To Know

Costco just made a shareholder-friendly move, increasing its dividend.

(Image credit: Thinkstock)

Costco Wholesale (COST) reported its monthly sales data earlier this week and surprised its shareholders with a massive dividend increase, adding to its long streak of annual dividend hikes.

On Wednesday, Costco released its March sales results, revealing a 9.4% increase from the prior year to $23.48 billion. Included in the report was news of a 13.7% increase to its quarterly dividend.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.