Home Depot (HD) will raise its quarterly dividend by 10 percent to $1.65 per share in 2021. This follows a dividend hike of  10.3 percent to $1.50 per share in the first quarter of 2020. This also marks the 12th consecutive year of annual dividend increases by the world's largest home improvement retailer.

The next dividend is payable on March 25, 2021, to shareholders of record on the close of business on March 11, 2021. The new annual dividend rate of $6.60 per share yields 2.1% at a stock price of $315.

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.