Lowe's (LOW) Rises on Boosted Payout

Lowe's Cos. (NYSE: LOW) shares are on the rise Friday morning following an earlier announcement that the company would be doling out more to shareholders.

At its annual meeting, Lowe's raised its quarterly dividend 12.5 percent to 18 cents per share. Yield at the current stock price is 1.7 percent.

CEO Robert A. Niblock also commented, "I think of 2012 as the year we balanced running the business while we changed the business,” Niblock said. “With the investments we’re making, the initiatives we’re completing and the improvements we’re seeing in the housing market, we expect the momentum we gained in 2012 to accelerate in 2013."

Shares are now at sessions highs, up 0.5 percent for the day.

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