Costco bucks dividend suspension trend with near 8% raise

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Unlike the rest of corporate America, which has been hammered by the coronavirus crisis, grocery retailers and some packaged-food companies have seen sales surge in recent weeks, as consumers stockpile household essentials to weather strict lockdowns across the United States.

Costco, which last week reported a 9.6% jump in March comparable sales, joins Procter & Gamble (N:PG) and Johnson & Johnson (N:JNJ) which also raised their dividends earlier this week.

Costco’s dividend is payable on May 15.