ATLANTA - The Home Depot (NYSE:HD), recognized as the largest home improvement retailer globally, has declared a quarterly cash dividend of $2.25 per share, scheduled for payment on September 12, 2024. Eligible shareholders must be on record by August 29, 2024, to receive this dividend. This marks the 150th consecutive quarter that The Home Depot has provided a cash dividend to its shareholders.
The company, with a presence in all 50 U.S. states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, as well as in 10 Canadian provinces and Mexico, operates a total of 2,340 retail stores and over 760 branches. The Home Depot employs a workforce of over 465,000 associates.
Shares of The Home Depot are publicly traded on the New York Stock Exchange under the ticker symbol NYSE:HD. The company is a component of both the Dow Jones Industrial Average and the S&P 500 index, indicating its significance in the broader market landscape.
This dividend announcement follows The Home Depot's tradition of returning value to its shareholders, a practice that has been consistent over the past 37 years. The company's commitment to maintaining a dividend payout underscores its financial health and the board's confidence in its business strategy.
Investors and market watchers often view dividend declarations as a positive signal about a company's stability and future prospects. The Home Depot's sustained dividend payments reflect its operational success and strategic management, which have allowed it to navigate the competitive retail landscape effectively.
This news is based on a press release statement from The Home Depot.
In other recent news, Home Depot has seen a multitude of analyst adjustments following its second-quarter financial performance and the announcement of the SRS Distribution acquisition. TD Cowen maintained a Hold stance on Home Depot shares, holding steady at a $420 price target, despite the company's reduced full-year guidance. The firm expressed optimism about the strategic addition of SRS to Home Depot's professional ecosystem.
Loop Capital, however, reduced its price target from $360 to $330 following a disappointing 3.3% dip in same-store sales. The firm anticipates the SRS acquisition to contribute approximately $6.4 billion in incremental sales for 2024. UBS increased its stock price target for Home Depot to $425, maintaining a Buy rating. The firm highlighted Home Depot's effective profit and loss management and expects the integration of SRS Distribution to contribute positively to the company's long-term financial strategy.
RBC Capital reduced its price target from $377.00 to $363.00, maintaining a Sector Perform rating due to a more cautious view of consumer spending and the effects of the SRS Distribution acquisition. Evercore ISI also reduced its price target on Home Depot to $400 from $415 but maintained an Outperform rating, noting the company's negative comparable store traffic and potential risks in the Pro segment. These are some of the recent developments for Home Depot.
InvestingPro Insights
The Home Depot's recent dividend announcement is a testament to its strong track record of shareholder returns. Notably, the company has not only maintained but also increased its dividend payments for 38 consecutive years, showcasing a robust financial standing and a commitment to its investors. This is an important indicator for dividend-seeking investors, as consistent dividend growth can be a sign of a company's health and stability.
In addition to its impressive dividend history, The Home Depot is trading at a high Price / Book multiple, which can often be interpreted as a market expectation of future growth or a reflection of a company's strong intangible assets and brand value. With a market capitalization of $356.66 billion and a Price / Book ratio of 80.8 as of the last twelve months ending in Q2 2025, The Home Depot remains a heavyweight in the Specialty Retail industry.
Moreover, while the company's revenue growth has seen a slight decline of 1.8% in the last twelve months as of Q2 2025, The Home Depot still boasts a significant gross profit margin of 33.6%, underlining its efficiency in managing costs and sustaining profitability. This aligns with the InvestingPro Tips which highlight that analysts predict the company will be profitable this year, and it has indeed been profitable over the last twelve months.
For investors interested in further insights and analysis, there are additional InvestingPro Tips available on The Home Depot, providing more in-depth information on the company's financial health and market position. These tips can be accessed through the InvestingPro platform at https://www.investing.com/pro/HD, which contains a total of 9 tips for The Home Depot, offering valuable perspectives for both current and potential shareholders.
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