MOORESVILLE, N.C., May 31, 2024
/PRNewswire/ -- The board of directors of Lowe's Companies,
Inc. (NYSE: LOW) has declared a quarterly cash dividend of
one dollar and 15 cents ($1.15)
per share, payable Aug. 7, 2024, to
shareholders of record as of July 24,
2024. This represents a 5% increase over the company's
previous dividend of one dollar and
10 cents ($1.10) per share.
"While I am pleased with our continued progress toward becoming
a world-class omnichannel retailer, as we transform the customer
and associate experience, I am even more optimistic about the
opportunities in front of us," said Marvin
R. Ellison, Lowe's chairman, president and CEO.
"Today's dividend increase reflects the Board's confidence in
our growth strategy and commitment to disciplined capital
allocation that delivers long-term shareholder value."
Lowe's has paid a cash dividend every quarter since going public
in 1961, and it has increased the dividend for more than 25
consecutive years.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home
improvement company serving approximately 16 million customer
transactions a week in the United
States. With total fiscal year 2023 sales of more than
$86 billion, Lowe's operates over
1,700 home improvement stores and employs 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.
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", "scenario", "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 (including objectives related to environmental and
social matters), business outlook, priorities, sales growth,
shareholder value, capital expenditures, cash flows, the housing
market, the home improvement industry, demand for products and
services including customer acceptance of new offerings and
initiatives, macroeconomic conditions and consumer spending, share
repurchases, and 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 volatility and/or lack of liquidity from time
to time in U.S. and world financial markets and the consequent
reduced availability and/or higher cost of borrowing to Lowe's and
its customers, slower rates of growth in real disposable personal
income that could affect the rate of growth in consumer spending,
inflation and its impacts on discretionary spending and on our
costs, shortages, and other disruptions in the labor supply,
interest rate and currency fluctuations, home price appreciation or
decreasing housing turnover, age of housing stock, the availability
of consumer credit and of mortgage financing, trade policy changes
or additional tariffs, outbreaks of pandemics, fluctuations in fuel
and energy costs, inflation or deflation of commodity prices,
natural disasters, geopolitical or armed conflicts, acts of both
domestic and international terrorism, 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.
LOW-IR
Contacts:
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Shareholder/Analyst
Inquiries:
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Media
Inquiries:
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Kate
Pearlman
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Steve
Salazar
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704-775-3856
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steve.j.salazar@lowes.com
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kate.pearlman@lowes.com
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SOURCE Lowe's Companies, Inc.