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The Home Depot, the world's largest home improvement retailer, announced a first-quarter cash dividend of $2.25 per share, payable on June 13, 2024, to shareholders of record as of May 30, 2024.
This marks the 149th consecutive quarter that the company has issued a cash dividend.
As of the end of Q1 2024, Home Depot operates 2,337 stores across various regions including all 50 U.S. states, Canada, Mexico, and several U.S. territories. The company employs around 465,000 associates.
Home Depot's stock is traded on the NYSE under the ticker symbol HD and is a component of both the Dow Jones Industrial Average and the S&P 500 index.
The Home Depot has launched a Military Moving hub to support military families with relocations, unveiled on Armed Forces Day. The hub provides tailored information to help military families save time and money during Personally Procured Moves (PPM), including a downloadable permanent change of station (PCS) checklist. With frequent relocations being a significant challenge for military families, this initiative aims to alleviate stress and offer convenience. The hub features moving truck rentals, boxes, décor, cleaning materials, and exclusive discounts, such as a 10% off benefit for active military, veterans, and their spouses. Additionally, Penske truck rentals are discounted by 15% for military personnel, and tax-free shopping is available through military exchange services. The Home Depot has pledged significant investments in veteran causes, totaling over $500 million since 2011, and plans to invest $750 million by 2030.
The Home Depot has launched a Military Moving Hub to support U.S. Armed Forces and their families during relocations. Announced on May 15, 2024, to coincide with Armed Forces Day, the program offers exclusive discounts and resources tailored to military personnel. The hub provides information to help military families save time and money on Personally Procured Moves (PPM) and features a downloadable permanent change of station (PCS) checklist. Military families, who often relocate every 2-3 years, can access moving truck rentals with a 15% discount and a 10% discount on eligible purchases year-round. The Home Depot also partners with Military Exchange Services for tax-free shopping on major appliances. This initiative is part of The Home Depot's ongoing commitment to veteran causes, with significant investments planned through The Home Depot Foundation.
The Home Depot reported its fiscal 2024 first-quarter results with sales of $36.4 billion, down 2.3% year-over-year. Comparable sales fell 2.8%, with U.S. comparable sales down 3.2%. Earnings were $3.6 billion, or $3.63 per diluted share, compared to $3.9 billion, or $3.82 per diluted share, a year prior. The company reaffirmed its fiscal 2024 guidance, projecting 1.0% sales growth and a comparable sales decline of 1.0%. It also announced a definitive agreement to acquire SRS Distribution Inc. but noted the guidance does not account for this acquisition. The 53rd week is expected to add $2.3 billion in sales and $0.30 in EPS. The Home Depot operates 2,337 retail stores globally and employs 465,000 associates.
The Home Depot Foundation commits up to $300,000 to support tornado and severe flooding relief efforts in various states impacted by recent natural disasters. They have partnered with several organizations to provide immediate assistance and long-term recovery efforts. The Home Depot is actively involved in distributing emergency supplies and support to affected communities.
The Home Depot Foundation supports U.S. Army Ranger MSG Cedric King, a double amputee, by providing a specially adapted smart home. King, a decorated veteran, now motivates others with his story. The Home Depot has partnered to build over 90 smart homes for combat-wounded veterans since 2011.
The Home Depot, the world's largest home improvement retailer, will host its First Quarter Earnings Conference Call on May 14 at 9 a.m. ET. The company operates 2,335 retail stores and employs approximately 465,000 associates. The stock is traded on NYSE under the symbol 'HD'.
