Home Depot Inc. mentioned Tuesday it would increase its quarterly dividend by 10.0%, to $2.09 a share from $1.90 a share.
The dwelling enchancment retailer mentioned shareholders of report on March 9 can be paid the dividend on March 23.
Based on Home Depot’s present inventory value
HD,
the brand new annual dividend charge of $8.36 a share, implies a dividend yield of two.78%. That compares with the present dividend yield for rival Lowe’s Companies Inc.’s inventory
LOW,
of two.08% and the implied yield for the S&P 500 index
SPX,
of 1.70%.
Home Depot’s inventory took a 5.4% in morning buying and selling, within the wake of a disappointing quarterly earnings report and full-year steering.
The firm mentioned the dividend fee in March will mark the 144th straight quarter it has paid a money dividend. In 2022, the corporate paid out $7.79 billion in dividends to its shareholders, and spent $6.70 billion on share repurchases.
The inventory has misplaced 13.3% over the previous 12 months, whereas the Consumer Discretionary Select Sector SPDR exchange-traded fund
XLY,
has tumbled 18.5% and the S&P 500 has declined 7.7%.
Source web site: www.marketwatch.com
