Costco, Walmart’ı Geride Bırakan Temettü Stratejisiyle Yatırımcıları Çekiyor
In the ever‑shifting landscape of retail giants, Costco’s recent quarterly surge tells a story of resilience and shareholder reward that eclipses Walmart’s quieter performance.
Membership Model: The Engine of Consistent Growth
Costco’s $1.37 B membership fee income rose 11% in Q3 FY 2026, underpinning a 12% jump in net sales to $69.2 B. The club’s renewal rates stay above 90% in the U.S. and Canada, fostering a loyal customer base that fuels comparable sales growth.
Dividend Dynamics: From 27% Payout to Aristocrat Aspirations
With a forward dividend yield of 0.62%, Costco has increased its quarterly dividend by 13% to $1.47 per share, and paid a special dividend totaling $1.1 B in Q3. The company is on the brink of becoming a Dividend Aristocrat after 23 consecutive hikes.
Fueling the Numbers: Oil Prices and Gas Business
Higher global oil prices and Middle Eastern supply disruptions created demand for lower‑priced fuel. Costco leveraged its inventory to maintain competitive pricing, boosting its gas business and driving a 6.6% rise in comparable sales excluding gasoline.
Strategic Expansion: 30 New Warehouses a Year
Costco now operates nearly 928 warehouses worldwide and plans to add 30 net new locations annually, reinforcing its market presence and scalability.
Comparative Performance: YTD vs S&P 500
COST stock has climbed 6% YTD, underperforming the 11% gain of the S&P 500. Despite this, Costco’s robust fundamentals and dividend trajectory position it as a stronger long‑term play compared to Walmart.
In an era where AI stocks dominate headlines, Costco’s steady dividend growth and membership‑driven resilience offer a compelling counter‑balance for risk‑averse investors seeking durable returns.