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Costco Wholesale Corp. (COST) Has Gapped Up Sharply On Special Dividend News

Costco Wholesale Corp. (COST) reported a 6% increase in November comparable store sales. The company also announced that its board of directors declared a special cash dividend of $7 per share.

Costco has gapped open sharply higher Wednesday morning and is now up 4.58 at $101.09. The stock has broken out to a month and a half high and has re-crossed its 50-day moving average.

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