MOORESVILLE, N.C. - Lowe's Companies, Inc. (NYSE: LOW), a leading home improvement retailer, has announced a quarterly cash dividend of $1.15 per share. The dividend is payable on November 6, 2024, to shareholders of record as of October 23, 2024.
This declaration follows Lowe's report of a successful fiscal year 2023, with sales surpassing $86 billion. The company, which operates over 1,700 stores across the United States and employs roughly 300,000 associates, has maintained a commitment to supporting community development and skilled trade education.
Lowe's has been serving around 16 million customer transactions weekly, emphasizing its role as a significant player in the home improvement industry. The company's efforts to create safe, affordable housing and foster the growth of trade skills align with its broader community support initiatives.
The dividend reflects Lowe's financial health and its ability to return value to its shareholders. It is a continuation of the company's practice of providing regular dividends, which are a critical aspect of the returns that investors seek.
This financial move comes at a time when Lowe's continues to execute its business strategy, focusing on customer service and operational efficiency to maintain its position in a competitive market.
Investors and shareholders can view more details about the dividend declaration and the company's financial performance on Lowe's official website. This announcement is based on a press release statement from Lowe's Companies, Inc.
In other recent news, Lowe's Companies Inc (NYSE:LOW). reported mixed Q2 results, with sales of $23.6 billion, marking a 5.1% decline in comparable sales year-over-year. Despite the downturn, Lowe's exceeded analysts' earnings per share (EPS) estimate of $4.00 with an actual EPS of $4.10, attributed to effective cost management strategies. The company experienced growth in its professional customer base and online sales, despite challenges in the DIY segment and unfavorable weather conditions.
KeyBanc reaffirmed a Sector Weight rating on Lowe's, while Piper Sandler maintained an Overweight rating but adjusted the price target to $262. Other financial firms such as Loop Capital, TD Cowen, Baird, RBC Capital, and BofA Securities also revised their price targets and ratings.
In other recent developments, Lowe's management revised its guidance for the year 2024 downward, reflecting trends observed in the first half of the year. The company continues to leverage its Total Home strategy, technological advancements, and strategic partnerships with companies like Apple (NASDAQ:AAPL), Sherwin-Williams (NYSE:SHW), and Uber (NYSE:UBER) Eats to drive growth. Looking ahead, Lowe's expects better comparable sales in Q3 and Q4, with operating margin rates anticipated to align with the previous year.
InvestingPro Insights
Lowe's Companies, Inc. (NYSE: LOW), with its recent announcement of a quarterly cash dividend, showcases its strong commitment to shareholder returns. This commitment is further evidenced by the fact that Lowe's has raised its dividend for 54 consecutive years, highlighting its reliability in providing shareholder value. The company's dividend yield stands at 1.86%, with a recent 4.55% growth in dividends as of the last twelve months leading up to Q2 2025.
InvestingPro data reveals a robust financial profile for Lowe's, with a market capitalization of $141.26 billion, underscoring its substantial presence in the Specialty Retail industry. Although the company has experienced a revenue decline of 9.87% over the last twelve months as of Q2 2025, Lowe's has still managed to maintain a gross profit margin of 33.21%, reflecting its ability to control costs and sustain profitability.
An InvestingPro Tip worth noting is Lowe's strong return over the last three months, with a 15.09% price total return, which may interest investors looking for companies with recent positive momentum. For those seeking more comprehensive analysis and insights, InvestingPro offers additional tips, including Lowe's operating with a moderate level of debt and analysts' predictions that the company will be profitable this year. To explore these insights further, investors can visit InvestingPro's website, which currently lists a total of 10 InvestingPro Tips for Lowe's.
The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at 20.49, with a slight adjustment to 20.39 over the last twelve months as of Q2 2025. This indicates that Lowe's shares are trading at a level that reflects its earnings performance, which could be a factor for investors to consider when evaluating the company's valuation.
With the next earnings date scheduled for November 19, 2024, shareholders and potential investors will be keen to see how Lowe's continues to navigate the competitive landscape of the home improvement industry and whether it can sustain its historical trend of returning value to its shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.