Lowe's Dividend Increase

On May 29, Lowe's (LOW) increased its dividend by 4.17%, from $1.20 to $1.25 per share.

The dividend is payable on August 5 to shareholders of record on July 22.

LOW's contribution to DivGro's projected annual dividend income will increase by $15 to $375.

I own 75 shares of LOW at an average cost basis of $92.50 per share. Following this increase, my yield on cost is 5.41%. (The stock's forward yield is 2.23% at $215.03 per share.)

Since I opened my position in April 2018, the stock has delivered a total return of 163%, including $2,106 in dividends. That's a splendid annualized rate of return of 13.6%!

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

5-Year History of Dividend Payouts by Ex-Date

✝projected, assuming no further changes

My quality model marks LOW at 6.6. Simply Safe Dividends rates LOW's dividend as Very Safe at 93, the top tier of their five-band scale. On the Credit factor, LOW scores 2.8.