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Monday, June 10, 2024

Lowe's Dividend Increase

On 31 May, Lowe's (LOW) increased its quarterly dividend by 4.55%, from $1.10 to $1.15 per share.

The dividend will be paid on 7 August to shareholders of record on 24 July. The ex-dividend date is 24 July.

LOW's contribution to DivGro's projected annual dividend income will increase by $20 to $460.

I own 100 shares of LOW at an average cost basis of $92.50 per share. Following this increase, my yield on cost is 4.97%. (LOW's forward yield is 2.11% at $218.10 per share). 

Since I opened my LOW position in April 2018, the stock has produced annualized total returns of 27%, including $1,758 in dividend income. 

LOW became DivGro's 34th Home Run stock in February 2021, when the stock doubled my original capital outlay.

5-Year History of Dividend Payouts by Ex-Date
2019 2020 2021 2022 2023 2024
$2.06 $2.25 $2.80 $3.70 $4.30 $4.50
15.73% 9.22% 24.44% 32.14% 16.22% 4.65%
5-year DGR: 19.29% 16.91%

projected, assuming no further changes

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