During this holiday – shortened week, there was only one dividend announcement from the Aristocrats. Home improvement retailer Lowe’s Companies, Inc (LOW) continued their remarkable record of double – digit percentage dividend increases by announcing their new quarterly payout of 23 cents per share. This represents a 27.8% increase over the prior quarterly dividend of 18 cents per share. The new dividend will be paid on August 6th to shareholders of record on July 23rd. The new annualized rate of 92 cents per share results in a current yield of 1.95%.
This is the 31st consecutive year that Lowe’s has increased their dividend. The company has more than doubled the dividend payout over the last 5 years and increased it nearly 12-fold since 2004 from a split-adjusted 7 cents per share to a projected total of 82 cents per share in 2014. More information is available at DividendAristocratStocks.com company summary page for Lowe’s.