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Lowe’s Cos. (LOW) raised its quarterly dividend by 33% to $0.80 per share. Lowe’s is a retail company that specializes in home improvement. The dividend is payable on August 4 to shareholders of record on July 21. Lowe’s annual dividend of $3.20 per share now reflects a dividend yield of 1.7%. On May 19, Lowe’s reported stronger-than-expected Q1 results. The company reported earnings of $3.21 per share, which outpaced the Street’s estimates of $2.62 and rose 81% year over year. Total revenues of $24.4 billion were above the consensus estimate of $23.9 billion and increased 24.1% year over year. (See Lowe’s stock analysis on TipRanks) Following the Q1 earnings announcement, Guggenheim analyst Steven Forbes reiterated a Buy rating on Lowe’s. Forbes said, “LOW’s 1Q 2021 operating results exceeded our expectations, broadly. Importantly, not only was gross margin expansionary (up ~20 basis points year-over-year) in the face of s ....
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