Lowe's (NYSE:LOW) is electing to stick to its existing dividend policy for the time being. The home-improvement company has declared its latest stock distribution, which is to be $0.18 per share paid on Nov. 6 to shareholders of record as of Oct. 23. That amount matches the firm's previous disbursement, which was paid earlier this month. Before that, Lowe's handed out $0.16 per share.

Since splitting its stock 2-for-1 in June 2006, the company has raised its payout after every four quarters. From that time, the distribution has climbed steadily from $0.05 per share to the present level.

The just-declared dividend annualizes to $0.72 per share. That yields 1.5% at Lowe's most recent closing stock price of $46.98.