Lowe's Companies (LOW) will raise its quarterly dividend to $1.05 per share in 2022. This marks 61 consecutive years of dividend increases by the Dividend Aristocrat. The dividend yield for LOW is 2.1% at a stock price of $200. The next LOW dividend is payable August 3, 2022, to shareholders of record as of July 20, 2022.
"I am pleased with the meaningful progress that we have made in our journey to becoming a world-class omnichannel retailer, and I am excited about the opportunities that lie ahead," said Marvin R. Ellison, Lowe's chairman, president and CEO. "Today's dividend increase reflects the strength and consistency of our cash flow and our continued commitment to returning capital to our shareholders."
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.