Shares of Lowe’s Companies Inc. LOW rallied 1.5% in morning trading Friday, after the home improvement retailer raised its quarterly dividend by 4.8%, to $1.10 a share from $1.05 a share. Shareholders of record on July 26 will be paid the new dividend on Aug. 9. Based on current stock prices, the new annual dividend rate implies a dividend yield of 2.16%, which compares with the current yield for rival Home Depot Inc.’s stock HD 2.89% and the implied yield for the S&P 500 SPX of 1.64%.
5% in morning trading Friday, after the home improvement retailer raised its quarterly dividend by 4.8%, to $1.10 a share from $1.05 a share. Shareholders of record on July 26 will be paid the new dividend on Aug. 9. Based on current stock prices, the new annual dividend rate implies a dividend yield of 2.16%, which compares with the current yield for rival Home Depot Inc.’s stock HD 2.89% and the implied yield for the S&P 500 SPX of 1.64%.