Company: COST
Filing Date: 2025-03-13
Form Type: 10-Q
Source: 0000909832-25-000015
Chunk: 14

Company: COSTCO WHOLESALE CORP /NEW
Filing Date: 2025-03-13
Form: 10-Q
Item: Item 1
Chunk 14
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—EquityDividendsA quarterly cash dividend of $1.16 per share was declared on January 23, 2025, and paid on February 21, 2025. During the second quarter of 2024, the quarterly dividend was $1.02 per share and an aggregate payment of approximately $6,655 was made in connection with a special cash dividend of $15.00 per share. Stock Repurchase ProgramsThe Company's stock repurchase program is conducted under a $4,000 authorization by the Board of Directors, which expires in January 2027. At February 16, 2025, the remaining amount available under the program was $2,452. The following table summarizes the repurchase activity:Shares Repurchased (000s)Average Price per ShareTotal CostSecond quarter of 2025213 $967.29 $207 First half of 2025443 $932.03 $413 Second quarter of 2024240 $664.02 $160 First half of 2024528 $609.51 $322 These amounts may differ from the accompanying condensed consolidated statements of cash flows due to changes in unsettled stock repurchases at the end of each quarter. Purchases are made from time to time, as conditions warrant, in the open market or in block purchases and pursuant to plans under SEC Rule 10b5-1.

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Note 6—Stock-Based CompensationThe 2019 Incentive Plan authorizes the issuance of up to a maximum of 15,885,000 RSUs. To preserve the value of outstanding awards, the number of RSUs that may be granted under this Plan is subject to adjustments from changes in capital structure. The Company issues new shares of common stock upon vesting of RSUs. Shares for vested RSUs are generally delivered to participants annually, net of shares withheld for taxes.Summary of Restricted Stock Unit ActivityAt February 16, 2025, 6,232,000 shares were available to be granted as RSUs, and the following awards were outstanding:•2,241,000 time-based RSUs, which vest upon continued employment over specified periods and accelerate upon achievement of a long-service term;•51,000 performance-based RSUs granted to executive officers, for which the performance targets have been met. The awards vest upon continued employment over specified periods of time and upon achievement of a long-service term; and•70,000 performance-based RSUs granted to executive officers