Costco Declares Special $7 Dividend, Tops 50-Day Line
Costco's shares jumped above the 50-day line Wednesday after the company declared a special dividend of $7 a share. The stock is now 2% off its high as it forms a flat base with a possible 104.53 buy point. The one-time dividend is payable Dec. 18 to owners of the stock on Dec. 10. The special payout comes on top of the regular quarterly cash dividend of $0.275 per share. However, Fitch Ratings cut Costco's debt rating by one notch to A+ from AA-,
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