Lowe’s announces boost to quarterly dividend

Lowe’s Companies, Inc. (NYSE: LOW) has announced a 5% increase in its quarterly cash dividend to $1.15 per share, payable Aug. 7, 2024, to shareholders of record as of July 24, 2024. This marks an increase from the previous dividend of $1.10 per share.

Marvin R. Ellison, chairman, president, and CEO of Lowe’s, expressed optimism about the company’s growth and transformation. “Today’s dividend increase reflects the Board’s confidence in our growth strategy and commitment to disciplined capital allocation,” Ellison said.

Lowe’s has paid a quarterly dividend since going public in 1961 and has increased it for over 25 consecutive years. The company operates over 1,700 stores, serving approximately 16 million customer transactions weekly.