Lowe’s Cos. (LOW) declared a 22% dividend increase Friday, boosting its quarterly cash payout to 11 cents a share.
The dividend will be payable on August 4 of this year to shareholders of record by July 21, 2010. The home products retailer said it has continuously paid a dividend every year since it first went public in 1961.
Shares of Lowe’s were down slightly, trading 7 cents, or 0.3%, lower. The stock is up 7.1% year-to-date, but in the past month it has slipped 7.3%.
Business briefs: Community Health’s profits increaseFreddie Mac Posts 1Q Loss of $6.7B, Asks Treasury for $10.6B
