Costco Wholesale Corporation Announces Expansion of Its Stock, Buy Back Up to $4B Shares, Boosts Dividend to $0.24 (COST)

Costco Wholesale Corporation COST today announced that its Board of Directors has approved a common stock repurchase program of up to $4 billion. This program will expire in April 2015 and replaces the existing program, which has unused authorization of approximately $800 million, which will expire in July 2011. The Board of Directors also declared a quarterly cash dividend on Costco common stock and approved a quarterly increase from $.205 to $.24 per share, or $.96 per share on an annualized basis. The dividend is payable May 27, 2011, to shareholders of record at the close of business on May 13, 2011.