Lowe's Companies (LOW) will raise its quarterly dividend by 14.6 percent to $0.55 per share in 2019.
This marks the 58th consecutive year of dividend increases by the home improvement retailer.
The next dividend is payable August 7, 2019, to shareholders of record as of July 24, 2019. A new annualized dividend rate of $2.20 per share yields 2.3% at a stock price of $95.
Lowe's Companies, Inc. is a home improvement retailer. The company operates home improvement and hardware stores in The United States, Canada and Mexico. The Canadian Stores include RONA Inc., acquired by Lowe's in 2016. The company's customers include homeowners, renters, and professional customers. Lowe's was founded in 1946, incorporated in North Carolina in 1952 and has declared a cash dividend every quarter since going public in 1961.