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Lowe's (LOW) Hikes Dividend: Key Takeaways for Investors
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Lowe's Companies, Inc. (LOW - Free Report) has long been a favorite for income-seeking investors. Based in Mooresville, NC, the company boasts a robust history of consistent dividend payments, offering a reliable hedge against market volatility. Once again, the home improvement retailer has rewarded its shareholders with a dividend hike. This increase highlights Lowe's financial health and confidence in its continued growth and profitability.
Lowe's board of directors raised the quarterly dividend by 5% to $1.15 per share. The new dividend will be paid out on Aug 7, 2024 to its shareholders of record as of Jul 24, 2024.
Lowe's has a long-standing tradition of rewarding its shareholders, having paid a cash dividend every quarter since it went public in 1961. Impressively, the company has increased its dividend for more than 25 consecutive years. This track record highlights Lowe's commitment to returning capital to its shareholders, even as it continues to invest in growth initiatives.
Such strategic steps not only drive shareholder value but also raise the market value of the stock. Through these shareholder-friendly moves, companies persuade investors to either buy or hold the stock. Those seeking regular income from stocks are likely to choose companies with a history of consistent and incremental dividend payouts.
LOW Poised for Long-Term Success
Lowe’s has demonstrated remarkable adaptability in responding to evolving consumer behaviors and market dynamics. Despite softer DIY demand trends, the company has recalibrated its strategies to focus on smaller, non-discretionary projects and enhance value propositions for customers. Initiatives like the MyLowe’s Rewards loyalty program and investments in omnichannel experiences underscore Lowe’s commitment to meeting evolving consumer needs and driving long-term growth.
The Pro segment remains a significant growth driver for Lowe’s. The company is leveraging its multi-year strategy to enhance product offerings, fulfillment options and the overall shopping experience for professional customers. A stable performance in the Pro segment could contribute to revenue diversification and mitigate risks associated with fluctuating consumer demand.
Image Source: Zacks Investment Research
Additionally, Lowe’s strategic investments in its Total Home strategy — including modernizing the supply chain and IT infrastructure, localizing and improving merchandising assortments, and enhancing digital and omnichannel experiences — position the company for long-term success.
Lowe’s remains bullish on the medium to long-term outlook for the home improvement industry. Factors such as disposable personal income, home price appreciation and the age of housing stock, coupled with trends like millennial household formation, support a positive outlook for home improvement demand. Moreover, as mortgage rates decline, it could potentially stimulate homebuying activity and subsequently drive demand for renovation and remodeling projects.
This Zacks Rank #3 (Hold) stock has advanced 6.6% in the past six months compared with the industry’s rise of 5.3%.
Don’t Miss These Solid Bets
M/I Homes, Inc. (MHO - Free Report) , one of the nation's leading homebuilders of single-family homes, currently sports a Zacks Rank #1 (Strong Buy). MHO has a trailing four-quarter earnings surprise of 19%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for M/I Homes’ current financial-year sales and earnings suggests growth of around 5.4% and 12.2%, respectively, from the year-ago reported figure.
KB Home (KBH - Free Report) , which operates as a homebuilding company in the United States, currently carries a Zacks Rank #2 (Buy). KBH has a trailing four-quarter earnings surprise of 26.1%, on average.
The Zacks Consensus Estimate for KB Home's current financial-year sales and earnings implies growth of around 5.6% and 13.9%, respectively, from the year-ago reported numbers.
Tractor Supply Company (TSCO - Free Report) , the largest rural lifestyle retailer in the United States, currently carries a Zacks Rank #2. TSCO has a trailing four-quarter earnings surprise of 2.7%, on average.
The Zacks Consensus Estimate for Tractor Supply Company’s current financial-year sales and earnings calls for growth of around 3% and 2.5%, respectively, from the year-ago reported numbers.
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Lowe's (LOW) Hikes Dividend: Key Takeaways for Investors
Lowe's Companies, Inc. (LOW - Free Report) has long been a favorite for income-seeking investors. Based in Mooresville, NC, the company boasts a robust history of consistent dividend payments, offering a reliable hedge against market volatility. Once again, the home improvement retailer has rewarded its shareholders with a dividend hike. This increase highlights Lowe's financial health and confidence in its continued growth and profitability.
Lowe's board of directors raised the quarterly dividend by 5% to $1.15 per share. The new dividend will be paid out on Aug 7, 2024 to its shareholders of record as of Jul 24, 2024.
Lowe's has a long-standing tradition of rewarding its shareholders, having paid a cash dividend every quarter since it went public in 1961. Impressively, the company has increased its dividend for more than 25 consecutive years. This track record highlights Lowe's commitment to returning capital to its shareholders, even as it continues to invest in growth initiatives.
Such strategic steps not only drive shareholder value but also raise the market value of the stock. Through these shareholder-friendly moves, companies persuade investors to either buy or hold the stock. Those seeking regular income from stocks are likely to choose companies with a history of consistent and incremental dividend payouts.
LOW Poised for Long-Term Success
Lowe’s has demonstrated remarkable adaptability in responding to evolving consumer behaviors and market dynamics. Despite softer DIY demand trends, the company has recalibrated its strategies to focus on smaller, non-discretionary projects and enhance value propositions for customers. Initiatives like the MyLowe’s Rewards loyalty program and investments in omnichannel experiences underscore Lowe’s commitment to meeting evolving consumer needs and driving long-term growth.
The Pro segment remains a significant growth driver for Lowe’s. The company is leveraging its multi-year strategy to enhance product offerings, fulfillment options and the overall shopping experience for professional customers. A stable performance in the Pro segment could contribute to revenue diversification and mitigate risks associated with fluctuating consumer demand.
Image Source: Zacks Investment Research
Additionally, Lowe’s strategic investments in its Total Home strategy — including modernizing the supply chain and IT infrastructure, localizing and improving merchandising assortments, and enhancing digital and omnichannel experiences — position the company for long-term success.
Lowe’s remains bullish on the medium to long-term outlook for the home improvement industry. Factors such as disposable personal income, home price appreciation and the age of housing stock, coupled with trends like millennial household formation, support a positive outlook for home improvement demand. Moreover, as mortgage rates decline, it could potentially stimulate homebuying activity and subsequently drive demand for renovation and remodeling projects.
This Zacks Rank #3 (Hold) stock has advanced 6.6% in the past six months compared with the industry’s rise of 5.3%.
Don’t Miss These Solid Bets
M/I Homes, Inc. (MHO - Free Report) , one of the nation's leading homebuilders of single-family homes, currently sports a Zacks Rank #1 (Strong Buy). MHO has a trailing four-quarter earnings surprise of 19%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for M/I Homes’ current financial-year sales and earnings suggests growth of around 5.4% and 12.2%, respectively, from the year-ago reported figure.
KB Home (KBH - Free Report) , which operates as a homebuilding company in the United States, currently carries a Zacks Rank #2 (Buy). KBH has a trailing four-quarter earnings surprise of 26.1%, on average.
The Zacks Consensus Estimate for KB Home's current financial-year sales and earnings implies growth of around 5.6% and 13.9%, respectively, from the year-ago reported numbers.
Tractor Supply Company (TSCO - Free Report) , the largest rural lifestyle retailer in the United States, currently carries a Zacks Rank #2. TSCO has a trailing four-quarter earnings surprise of 2.7%, on average.
The Zacks Consensus Estimate for Tractor Supply Company’s current financial-year sales and earnings calls for growth of around 3% and 2.5%, respectively, from the year-ago reported numbers.