Lowe’s Companies announces $1.10 cash dividend

Lowe’s Companies Inc (NYSE: LOW) said on Friday that its Board of Directors had authorized a quarterly cash dividend of $1.10 per share.

The dividend will be paid on May 8th to shareholders of record as of the close of business on April 24th 2024, the company said.

Stock Performance

The shares of Lowe’s Companies Inc (LOW) closed 0.96% ($2.50) lower at $258.50 in New York on Friday, as they snapped a three-day streak of gains.

The company’s total market cap now stands at $148.379 billion.

The shares of Lowe’s Companies Inc (LOW) went up 11.70% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have risen 16.15% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 14 out of 23 surveyed investment analysts had rated Lowe’s Companies Inc’s stock as “Buy”, while 9 – as “Hold”. The median price target on the stock stands at $250.27, which translates into a 3.18% downside compared to the closing price on Friday.

The high point of the analyst forecast range stands at $280.00.