Business

Market Movers

Costco to pay special $7-a-share dividend

Costco said the hurricane cut 0.5 percent from sales at stores open at least a year.

Associated Press/File 2011

Costco said the hurricane cut 0.5 percent from sales at stores open at least a year.

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Costco Wholesale Corp. will spend $3 billion to pay a special dividend of $7 per share, in addition to a regular quarterly dividend of 27.5 cents. Many companies are making special payments because investors will have to pay higher taxes on dividend income in 2013 unless Congress and the president compromise to avoid the fiscal cliff. Costco also said November revenue rose nearly 9 percent to $8.15 billion. Revenue from stores open at least a year rose 6 percent.

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