Costco boosts dividend by 13%

Costco Wholesale Corp.
COST,
-0.18%
is increasing its quarterly dividend by 13%, the company announced Wednesday afternoon. Costco’s new dividend will be $1.02 a share, up from 90 cents. The dividend is payable May 19 to shareholders of record as of the close of business May 5. The company earlier this month posted its first same-store-sales decline in nearly three years. Costco shares are up 9% so far this year as the S&P 500
SPX,
-0.01%
has advanced 8%.