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Originally published April 26, 2011 at 3:00 PM | Page modified April 26, 2011 at 3:31 PM

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Costco raises dividend, plans $4 billion stock buyback

Costco Wholesale, whose shares reached a new 52-week high Tuesday, announced a higher dividend and a stock repurchase program.

Seattle Times business reporter

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Costco Wholesale, whose shares reached a new 52-week high Tuesday, announced a higher dividend and a stock repurchase program.

The Issaquah-based company will pay quarterly dividends of 24 cents a share beginning May 27, to shareholders of record on May 13. That's up from 20.5 cents a share.

It also plans to repurchase up to $4 billion of common stock as part of a new program that replaces an existing repurchase program that expires in July. The older program still has about $800 million in unused authorization.

After reaching an intraday trading high of $80 a share — the highest of the past year — Costco shares ended regular trading up $1.12 at $79.78. In after hours trading, they gained another 39 cents to $80.25.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com

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