What's Going On With Home Retailer Lowe's Shares After Raising Dividend By 5%?
Portfolio Pulse from Nabaparna Bhattacharya
Lowe's Companies, Inc. (NYSE:LOW) shares are trading slightly higher after the company announced a 5% increase in its quarterly dividend to $1.15 per share. The dividend is payable on August 7 to shareholders of record as of July 24. This follows better-than-expected first-quarter FY24 earnings and a sales decline of 4.4% year-on-year to $21.364 billion. Lowe's also repurchased 3.0 million shares for $743 million and paid $633 million in dividends in the quarter. The company expects FY24 revenue of $84 billion-$85 billion and EPS of $12.00-$12.30. Investors can gain exposure to Lowe's via Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF (NYSE:FMCX) and VanEck Retail ETF (NASDAQ:RTH).
May 31, 2024 | 4:52 pm
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POSITIVE IMPACT
Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF (NYSE:FMCX) provides exposure to Lowe's, which has announced a 5% increase in its quarterly dividend and reported better-than-expected first-quarter FY24 earnings.
FMCX holds Lowe's shares, and the positive news regarding Lowe's dividend increase and earnings will likely benefit the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Lowe's shares are trading slightly higher after the company announced a 5% increase in its quarterly dividend to $1.15 per share. This follows better-than-expected first-quarter FY24 earnings and a sales decline of 4.4% year-on-year to $21.364 billion.
The dividend increase and better-than-expected earnings are positive signals for investors, likely leading to a short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
VanEck Retail ETF (NASDAQ:RTH) provides exposure to Lowe's, which has announced a 5% increase in its quarterly dividend and reported better-than-expected first-quarter FY24 earnings.
RTH holds Lowe's shares, and the positive news regarding Lowe's dividend increase and earnings will likely benefit the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50