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.
Fool contributor Eric Volkman has no position in Lowe's. The Motley Fool recommends Lowe's. Try any of our Foolish newsletter services free for 30 days. We Fools don't may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.