Costco plans special cash dividend of $7 per share

The Issaquah, Wash., company said Wednesday that the special dividend will be payable Dec. 18 to shareholders of record Dec. 10. Costco Wholesale Corp.'s regular quarterly dividend of 27.5 cents per share will be paid Nov. 30 to shareholders of record as of Nov. 16.

Costco also said Wednesday that its November revenue climbed nearly 9 percent to $8.15 billion. Revenue from stores open at least a year rose 6 percent. The increase was 5 percent excluding gains from gasoline price inflation and stronger foreign currencies.

Revenue from stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Costco's shares rose $4.29, or 4.5 percent, to $100.80 in morning trading Wednesday. Its shares peaked for the past year at $104.43 in October. They traded as low as $78.81 in early January.

Many companies are making special end-of-year dividend payments or moving up their quarterly payouts because investors may have to pay higher taxes on dividend income starting in January.