Costco Stock Is Moving Higher After Hours: What's Going On?

Costco Wholesale Corp COST shares are climbing higher in Thursday's after-hours session after the company reauthorized a buyback and declared a dividend.

What Happened: Costco's board has reauthorized a common stock repurchase program of up to $4 billion. The program is set to expire in January 2027 and will replace the current $4 billion program, which was adopted in 2019 and scheduled to expire in April 2023.

Under the previous repurchase program, Costco purchased $1.4 billion of its common stock. 

Costco's board also declared a quarterly cash dividend of 90 cents per share. The dividend is payable on Feb. 17, to shareholders of record at the close of business on Feb. 3.

Check This Out: After Hours Alert: What's Going On With Kohl's And Macy's Shares?

Costco sells memberships that allow customers to shop in its warehouses, which feature low prices on a limited product assortment. The company currently operates 847 warehouses spread across several countries. 

COST Price Action: Costco has a 52-week high of $612.27 and a 52-week low of $406.51.

The stock was up 1.17% after hours at $475 at time of writing, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoverswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...