Financial markets have breathed easier at the prospect that a GOP Senate means no big tax increases in 2021. But Republican control still isn’t certain, and one signal of caution to watch are companies issuing special dividends by the end of the year.

Costco last week announced a one-time dividend of $10 a share for an outlay of some $4.4 billion. The dividend is payable on Dec. 11. Costco has issued special dividends before, and it mentioned no political motive in the timing of the payout.

But…



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