Lowe's Companies, Inc. Announces 33 Percent Increase To Quarterly Cash Dividend

Rhea-AI Summary

Lowe's Companies, Inc. (NYSE: LOW) announced a 33% increase in its quarterly cash dividend to $0.80 per share, payable on August 4, 2021, to shareholders of record by July 21, 2021. This decision reflects the board's confidence in the company's ongoing business momentum and strong cash flow generation. Lowe's has consistently paid dividends quarterly since going public in 1961, with over 25 consecutive years of increases. For fiscal year 2020, Lowe's reported sales of $89.6 billion.

Positive

• 33% increase in quarterly cash dividend to $0.80 per share.
• Demonstrates strong business momentum and cash flow generation.
• Lowe's has paid a dividend every quarter since 1961.
• Over 25 consecutive years of dividend increases.

Negative

• None.

MOORESVILLE, N.C., May 27, 2021 /PRNewswire/ -- The board of directors for Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of eighty cents ($0.80) per share, payable August 4, 2021, to shareholders of record as of July 21, 2021.

Based on its confidence in the company's continued business momentum, its growth trajectory and strong cash flow generation, the board of directors approved a 33 percent increase in the quarterly cash dividend. Lowe's has paid a cash dividend every quarter since going public in 1961, and it has increased the dividend for more than 25 consecutive years.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 20 million customers a week in the United States and Canada. With fiscal year 2020 sales of $89.6 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Disclosure Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections and assumptions about future financial and operating results, objectives, business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services, share repurchases, Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. Such statements involve risks and uncertainties and we can give no assurance that they will prove to be correct. Actual results may differ materially from those expressed or implied in such statements. 

A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as the rate of unemployment, interest rate and currency fluctuations, fuel and other energy costs, slower growth in personal income, changes in consumer spending, changes in the rate of housing turnover, the availability of consumer credit and of mortgage financing, changes in commodity prices, trade policy changes or additional tariffs, outbreaks of public health crises, such as the COVID-19 pandemic, availability and cost of goods from suppliers, and other factors that can negatively affect our customers.  

Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the Securities and Exchange Commission. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law.  

LOW-IR

Contacts:	Shareholder /Analyst Inquiries:	Media Inquiries:
	Kate Pearlman	Ben Boyd
	704-775-3856	917-423-5010
	kate.pearlman@lowes.com	ben.boyd@lowes.com

 

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SOURCE Lowe's Companies, Inc.

FAQ

What is the new dividend amount announced by Lowe's Companies, Inc. (LOW)?

The new quarterly cash dividend announced by Lowe's is $0.80 per share.

When will Lowe's pay the new dividend?

The new dividend will be payable on August 4, 2021.

What is the record date for Lowe's dividend payment?

The record date for the dividend payment is July 21, 2021.

How long has Lowe's been paying dividends?

Lowe's has paid dividends every quarter since going public in 1961.

How many years has Lowe's increased its dividend?

Lowe's has increased its dividend for over 25 consecutive years.