Lowe's Raises Dividend by Nearly 5%
May 26 2023 - 9:59AM
Dow Jones News
By Will Feuer
Home-improvement retailer Lowe's declared a quarterly cash
dividend of $1.10 a share, up 4.8% from the company's previous
dividend.
The new payout, equal to $4.40 a year, represents an annual
yield of about 2.2% based on Thursday's closing price of
$201.04.
The new dividend is payable Aug. 9 to shareholders of record as
of July 26.
Chief Executive Marvin Ellison said the company has taken market
share and accelerated online growth.
Lowe's and rival Home Depot have both warned of a pullback in
spending on big-ticket home-improvement projects after a
pandemic-fueled surge in demand.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 26, 2023 09:44 ET (13:44 GMT)
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