The announcement was made during a shareholder's meeting last week and the change will be implemented this summer.

“I also want to confirm the $1.50 hot dog price is safe,” Millerchip stated. The iconic combo meal has maintained its $1.50 price tag since the 1980s.

Aficionados of Costco's famous $1.50 hot dogs will once again be able to top off their cheap treats with a Coca-Cola after more than a decade of unavailability at the discount retailer, its CEO says.