ATLANTA – The Home Depot (NYSE:HD)®, a leading home improvement retailer, announced today that its board of directors has approved a cash dividend for the first quarter of $2.25 per share. The dividend is scheduled to be distributed on June 13, 2024, to shareholders who are on record by the end of business on May 30, 2024. This marks the company's 149th consecutive quarter of providing a cash dividend to its shareholders.
Operating 2,337 retail stores across the United States, including the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, as well as in 10 Canadian provinces and Mexico, The Home Depot employs roughly 465,000 associates.
The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol NYSE:HD and are a component of the Dow Jones Industrial Average and the S&P 500 index.
This dividend announcement follows The Home Depot's consistent practice of returning value to its stockholders and underscores its ongoing financial performance. The retailer has established a strong track record of regular dividend payments, reflecting its position as a mainstay in the home improvement industry.
Investors and market watchers often view dividend announcements as indicators of a company's financial health and management's confidence in future earnings. Regular and increasing dividends can attract income-focused investors and potentially support the stock price by signaling stability and profitability.
The information provided in this article is based on a press release statement from The Home Depot.
InvestingPro Insights
The Home Depot's recent dividend announcement is a testament to its consistent financial performance and commitment to shareholder returns. With a dividend increase, the company has now raised its payout for 14 consecutive years, highlighting its reliability as an income-generating investment.
This consistency is reflected in The Home Depot's PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, you can access an additional 4 InvestingPro Tips that delve deeper into the company's financial health and market position.
Looking at the real-time metrics from InvestingPro, The Home Depot boasts a substantial market capitalization of 339.81 billion USD, indicating its significant presence in the market. The company's Price/Earnings (P/E) ratio stands at 23, with an adjusted P/E ratio for the last twelve months as of Q1 2025 at 22.9. These figures suggest a valuation that reflects investor confidence in its earnings potential. Moreover, The Home Depot operates with a moderate level of debt, which is a positive sign for investors concerned about financial stability.
In terms of stock performance, The Home Depot is known for low price volatility, which can be appealing for investors seeking stable returns. The company's dividend yield as of early 2024 was 2.58%, accompanied by a dividend growth of 7.66% in the last twelve months as of Q1 2025. This growth rate is a clear indicator of The Home Depot's ability to increase shareholder value over time. The company has maintained dividend payments for an impressive 38 consecutive years, further cementing its status as a prominent player in the Specialty Retail industry.
While recent revenue growth figures show a slight decline of 2.52% in the last twelve months as of Q1 2025, The Home Depot's strong fundamentals and a history of profitability suggest resilience in the face of market fluctuations. Investors looking for more comprehensive analysis and additional insights can find them with InvestingPro, where a total of 11 InvestingPro Tips are available to help make informed investment decisions.
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