Lowe's Cos. (LOW) Declares $0.23 Quarterly Dividend; Announces $5B Buyback

March 20, 2015 4:31 PM EDT

Lowe's Cos. (NYSE: LOW) declared a quarterly dividend of $0.23 per share, or $0.92 annualized.

The dividend will be payable on May 6, 2015, to stockholders of record on April 22, 2015, with an ex-dividend date of April 20, 2015.

The annual yield on the dividend is 1.2 percent.

Reflecting its commitment to return excess cash to shareholders, the Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) has authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4 billion as of January 30, 2015. Repurchases will be subject to market conditions and will be made from time to time either in the open market or through private off-market transactions in accordance with the requirements of the Securities and Exchange Commission. The company's repurchase program may be suspended, discontinued or resumed at any time.

For a dividend history and other dividend-related data on Lowe's Cos. (LOW) click here.

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