Lowe's Companies raises dividend for 56th year

Lowe's Companies (LOW) will raise its dividend by 17.1 percent.

The quarterly dividend will be increased to $0.41 per share, marking the 56th consecutive year of dividend increases by Dividend Aristocrat Lowe's Companies.

The new dividend is payable Aug. 9, 2017, to shareholders of record as of July 26, 2017.  Lowe's has declared a cash dividend every quarter since going public in 1961.

Year-to-date Lowe's stock price has gained 12.8% to $80.20, resulting in a current market cap of $69 billion. The new dividend yield for Lowe's is 1.8%.

Lowe's Companies Dividend Aristocrat
Lowe's Companies is a Dividend Aristocrat (photo: Lowe's)
18 out of 31 analysts rate Lowe's Companies "buy" of higher, 12 "hold" and only 1 "sell".

Lowe's Companies, Inc. is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal Living; Paint; Flooring; Millwork; Kitchens; Outdoor Power Equipment, and Home Fashions.

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