NEW YORK, NY / ACCESSWIRE / April 27, 2017 / A special cash dividend for shareholders helped Costco shares come to life on Wednesday, while Procter & Gamble sunk into the red after disappointing revenues in Q3 were inadequate compared to what the Street expected.

RDI Initiates Coverage on:

Costco Wholesale Corporation
https://ub.rdinvesting.com/news/?ticker=COST

The Procter & Gamble Company
https://ub.rdinvesting.com/news/?ticker=PG

Costco Wholesale experienced heavy trading volume on Wednesday and closed in the green up 2.39% after the retailer announced Tuesday night that it would be giving its shareholders a special dividend. Shareholders had been anticipating such a move from the retailer and it came through this week. The cash dividend of $7 per share is in addition to Costco's regular quarterly cash dividend of 50 cents per share, which the company increased by 5 cents. Both dividends are payable on May 26th, to shareholders of record on May 10. CFO Richard Galanti remarked, "Today's announcement of a $7 special dividend is our latest step in returning capital to our shareholders. Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend, while preserving financial and operational flexibility to continue to grow our business globally."

Access RDI's Costco Wholesale Research Report at:
https://ub.rdinvesting.com/news/?ticker=COST

Procter & Gamble Company shares had a disappointing trading day on Wednesday after the company came up short in revenue for fiscal third quarter. The Street had expected $15.71 billion in revenue according to nine analysts surveyed by Zacks, but the consumer products company saw revenue at only $15.61 billion for the quarter. On the up side, profits for the company were better than expected with EPS at 96 cents per share, adjusted for non-recurring costs, compared to the estimate of 94 cents that Thomson Reuters analysts' were looking for. CEO David Taylor remarked, "The third quarter macro environment was characterized by a slowdown in market growth, continued geopolitical disruptions and foreign exchange challenges." Looking ahead the company has guidance for organic sales growth between 2 and 3 percent for fiscal 2017. Shares closed down 2.51% yesterday.

Access RDI's Procter & Gamble Research Report at:
https://ub.rdinvesting.com/news/?ticker=PG

Our Actionable Research on Costco Wholesale Corporation (NASDAQ: COST) and The Procter & Gamble Company (NYSE: PG) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com