Costco's Cash Pile Is Building. Is a Special Dividend Coming in the Second Half of 2026?

Costco Wholesale has accumulated $20 billion in cash, an all-time high, raising expectations for a special dividend announcement in the second half of 2026. The company historically pays special dividends every few years when cash reaches new peaks, with the last special dividend of $15.00 per share paid in January 2024. While Costco's regular dividend yield is modest at 0.6%, special dividends can significantly boost shareholder returns and have contributed meaningfully to the stock's long-term performance.