Lowe's increases dividend for 54th consecutive year

Lowe's Companies will increase its dividend by 21,7%.

The quarterly dividend will be raised from $0,23 to $0,28 per share, marking 54 consecutive years of dividend increases by the home improvement company. Lowe's now has raised its dividend every year since it's IPO in 1961.

Lowe's new annual dividend of $1,12 per share translates into a current dividend yield of 1,6% based on Friday's closing price of $69,98.

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