Costco, P&G, J&J among few to hike dividend during coronavirus crisis
(Reuters) – Warehouse operator Costco Wholesale Corp (COST.O) on Wednesday raised its quarterly dividend by about 8%, joining a small but growing list of companies to do so at a time when most of corporate America is suspending shareholders returns in order to shore up liquidity as the coronavirus crisis deepens.
FILE PHOTO: Johnson & Johnson products stand on a shelf in a store in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo GLOBAL BUSINESS WEEK AHEAD
Demand for consumer and healthcare products, groceries and other essential items has risen dramatically as people stockpile to tide over the lockdowns imposed to curb the COVID-19 padnemic, caused by the new coronavirus.
Here are some more companies that have announced higher dividends this month:
Company Name RIC New Old % Date of Market Cap Link
Dividend Dividend increase change (in billions)
Johnson & Johnson (JNJ.N) $1.01 $0.95 6.32% April 14 $389.28
Procter & Gamble Co (PG.N) $0.7907 $0.7459 6.01% April 14 $299.35
Costco Wholesale Corp (COST.O) $0.70 $0.65 7.69% April 15 $138.70
First Republic Bank (FRC.N) $0.20 $0.19 5.26% April 14 $16.19
Bank Ozk OZK.N $0.27 $0.26 3.85% April 01 $2.32
H.B. Fuller Co <FUL.N $0.1625 $0.16 1.56% April 02 $1.53
Lindsay Corp (LNN.N) $0.32 $0.31 3.23% April 06 $0.99
* Market cap according to Refinitiv Eikon data as of trading close on April 15
Reporting by Shariq Khan in Bengaluru; Editing by Shinjini Ganguli