Costco Wholesale hikes dividend by 12.1%

Costco Wholesale raised its quarterly cash dividend 12.1% to $1.30 per share from $1.16. This marks 21 consecutive years of increased dividends. The new payout, equal to $5.20 per year, represents an annual yield of about 0.54% based on Wednesday's closing price of $967.75. The higher dividend will be paid on May 16 to shareholders of record as of May 2, the company said. Last year COST hiked the dividend by 13.7%.