Lowe's Companies, Inc. ANNOUNCES 5% INCREASE TO QUARTERLY CASH DIVIDEND

Rhea-AI Summary

The board of directors of Lowe's Companies (NYSE: LOW) has declared a quarterly cash dividend of $1.15 per share, a 5% increase from the previous dividend of $1.10. This payment is scheduled for August 7, 2024, for shareholders on record by July 24, 2024. Marvin R. Ellison, Lowe's chairman, president, and CEO, emphasized the company's commitment to growth and long-term shareholder value.

Lowe's has a long history of paying cash dividends each quarter since it went public in 1961, and this marks over 25 consecutive years of dividend increases.

Positive

• Lowe's declared a 5% increase in its quarterly cash dividend to $1.15 per share.
• The dividend is payable on August 7, 2024, to shareholders on record as of July 24, 2024.
• Lowe's has a history of paying quarterly dividends since 1961.
• The company has increased its dividend for over 25 consecutive years.
• CEO Marvin R. Ellison highlighted confidence in Lowe's growth strategy and capital allocation.

Negative

• The announcement focuses on dividend increase but lacks details on revenue growth or profitability.
• Dividend increases might not offset any potential future financial downturns.
• The press release does not address any risks or challenges facing Lowe's.

MOORESVILLE, N.C., May 31, 2024 /PRNewswire/ -- The board of directors of Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of one dollar and 15 cents ($1.15) per share, payable Aug. 7, 2024, to shareholders of record as of July 24, 2024. This represents a 5% increase over the company's previous dividend of one dollar and 10 cents ($1.10) per share.

"While I am pleased with our continued progress toward becoming a world-class omnichannel retailer, as we transform the customer and associate experience, I am even more optimistic about the opportunities in front of us," said Marvin R. Ellison, Lowe's chairman, president and CEO.  "Today's dividend increase reflects the Board's confidence in our growth strategy and commitment to disciplined capital allocation that delivers long-term shareholder value."

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 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 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 (including objectives related to environmental and social matters), business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services including customer acceptance of new offerings and initiatives, macroeconomic conditions and consumer spending, share repurchases, and 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 volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages, and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, age of housing stock, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, geopolitical or armed conflicts, acts of both domestic and international terrorism, 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 SEC. 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		Steve Salazar
	704-775-3856		steve.j.salazar@lowes.com
	kate.pearlman@lowes.com

 

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SOURCE Lowe's Companies, Inc.

FAQ

What is the new quarterly cash dividend declared by Lowe's?

Lowe's declared a new quarterly cash dividend of $1.15 per share.

When is Lowe's next dividend payment?

Lowe's next dividend payment is scheduled for August 7, 2024.

When must I own Lowe's stock to receive the dividend?

Shareholders must be on record by July 24, 2024, to receive the dividend.

By what percentage did Lowe's increase its quarterly dividend?

Lowe's increased its quarterly dividend by 5%.

How long has Lowe's been paying quarterly dividends?

Lowe's has been paying quarterly dividends since it went public in 1961.

How many years in a row has Lowe's increased its dividend?

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

What is Lowe's stock symbol?

Lowe's stock symbol is LOW.