Home Depot (HD) will raise its quarterly dividend by 20.5 percent to $0.47 per share in 2014. Last year the home improvement retailer hiked its dividend by ten cents to $0.39 per share quarterly.

The increased dividend is payable March 27, 2014 to shareholders of record on March 13, 2014. The ex-dividend date will be March 11, 2014.

The Home Depot, Inc. is a home improvement retailer.  The company sells building materials, home improvement products, lawn and garden products, décor products and provides home improvement installation services and tool and equipment rental. The Home Depot stores are located throughout the U.S., including the Commonwealth of Puerto Rico and the territories of the U.S. Virgin Islands and Guam, Canada, and Mexico.