Home Depot (HD) will raise its quarterly dividend by 32.0 percent to $1.32 per share in the first quarter of 2019. This marks the 10th consecutive year of annual dividend increases by the home improvement retailer.

The next dividend is payable on March 28, 2019, to shareholders of record on the close of business on March 14, 2019. The new dividend yield for Home Depot is 2.9%.

"As a testament to our commitment to create value for our shareholders and a demonstration of confidence in the business going forward, the board has increased the dividend for the tenth consecutive year," said Craig Menear, chairman, CEO and president.

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.