Since 2000, Costco (a membership-based wholesale retailer) has used a variety of cash distribution options (regular dividends, special dividends ("one-time" dividends), and share repurchases). Consider the following graph of its stock performance compared to its usage of these different instruments. Costco's stock performance compared to various cash distribution options figures: 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Repurchases (in millions) 99.90 - - - - 413.30 1,442.80 1,978.00 895.00 69.00 551.00 624.00 632.00 36.00 334.00 481.00 Dividends (in millions) - - - - 92.10 204.60 230.20 246.00 265.00 296.00 338.00 389.00 446.00 511.00 584.00 664.00 Special Dividends (in millions) - - - - - - - - - - - - - 3,049.00 - 2,201.00 Stock Price 46.25 46 29 37 47.27 49.89 56.16 67.94 45.03 57.43 71.84 82.27 102.34 112.36 142.99 151.12 You can see how Costco has slowly grown its regular dividend while experimenting with other methods, such as a heavy amount of share repurchases from 2005-2008, and a heavy round of special one-time dividends in 2013 and 2015. What do you make of the timing of Costco's decisions on buybacks and dividends