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PriceSmart boosts semi-annual dividend by 20 percent as stock value doubles

Thursday, January 20, 2011

PriceSmart boosted its semi-annual dividend by 20 percent as the discount club-store operator joins a long line of companies looking to return cash to shareholders as the economy has improved.

The company, which is based in San Diego but operates warehouse shopping clubs in Central America and the Caribbean, said it expects to pay a 30-cent dividend twice in 2011.

The stock has nearly doubled in value in the past year.

Original source: Dow Jones