Costco (COST) is back in focus as investors look ahead to the company’s fiscal Q4 earnings report on September 24.

The bigger story isn’t just the earnings numbers. Market attention is also building around speculation that Costco could announce another special dividend, although no such payment has been confirmed by the company.

Costco’s latest sales data showed strong momentum, with Q4 net sales reaching about $93.9 billion, up 11.3% year over year. Digital sales also remained strong, while comparable sales continued to grow across major markets.

COST shares were recently around $895, with the stock showing only a modest 0.15% move in the latest session. Now traders are watching whether Thursday’s earnings can provide a fresh catalyst.

For investors, the key points to watch are earnings, membership trends, sales growth and any update on shareholder returns.

The special-dividend story is still speculation — the earnings report will tell the real story.

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