Lowe's Companies, Inc. raises quarterly cash dividend by 9% to $0.60 per share

Rhea-AI Summary

Lowe's Companies, Inc. (NYSE: LOW) announced a 9% increase in its quarterly cash dividend to $0.60 per share, payable on November 4, 2020, to shareholders of record as of October 21, 2020. This increase reflects the company's robust cash flow and strong business momentum, representing a total payout of approximately $455 million for the third quarter. Lowe's has consistently declared dividends since going public in 1961, highlighting its commitment to delivering strong shareholder returns.

Positive

• Dividend increased by 9% to $0.60 per share, enhancing returns for investors.
• Total quarterly payout of approximately $455 million demonstrates strong cash flow.
• Continuous payment of dividends since 1961 indicates stable financial performance.

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• None.

MOORESVILLE, N.C., Aug. 21, 2020 /PRNewswire/ -- Today the Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) declared a quarterly cash dividend of sixty cents ($0.60) per share, payable November 4, 2020, to shareholders of record as of October 21, 2020.  This represents a nine percent increase over the Company's previous quarterly dividend and brings the third quarter payout to approximately $455 million.  Lowe's has declared a cash dividend every quarter since going public in 1961.

"Based on our confidence in our continued, broad-based business momentum and robust cash flow generation, we are pleased to announce a nine percent increase in our dividend today," said Marvin Ellison, Lowe's president and CEO.  "This increase reflects our commitment to delivering strong shareholder returns through our disciplined capital allocation program."

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 18 million customers a week in the United States and Canada. With fiscal year 2019 sales of $72.1 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ 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.

LOW-IR

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", "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, changes or threatened changes in tariffs, outbreak of public health crises, such as the COVID-19 pandemic, availability and cost of goods from suppliers, changes in our management and key personnel, 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. 

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SOURCE Lowe's Companies, Inc.

FAQ

What is the new dividend amount for Lowe's (NYSE: LOW)?

Lowe's has increased its quarterly cash dividend to $0.60 per share.

When will Lowe's pay its new dividend?

The new dividend will be payable on November 4, 2020.

What is the significance of the 9% dividend increase for Lowe's investors?

The 9% increase reflects Lowe's strong business momentum and commitment to shareholder returns.

How long has Lowe's been paying dividends?

Lowe's has declared a cash dividend every quarter since going public in 1961.

What is the total payout amount for the third quarter of 2020?

The total quarterly payout for Lowe's is approximately $455 million.