What's Going On With Costco Stock Today?

Costco Wholesale COST shares are trading higher after the company raised its quarterly dividend.

What to Know: On Wednesday after the market close, Costco announced that it has raised its quarterly cash dividend from $0.90 to $1.02 per share, or $4.08 on an annualized basis. This increase represents a 13.3% hike and bumps the dividend yield up from 0.70% to 0.80%.

The dividend increase is payable on May 19, 2023, to shareholders of record at the close of the business on May 5, 2023.

Costco has 838 stores worldwide, with most sales derived in the United States and Canada. It sells memberships that allow customers to shop in its warehouses, which feature low prices on a limited product assortment.

Price Action Today: According to data from Benzinga Pro, Costco Wholesale stock was up 2.5%, trading at $508.46 at the time of publication. The stock has a 52-week high of $609.18 and a 52-week low of $406.64. The stock is trading above the 50-day moving average of $492.19