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Lowe's Companies, Inc. Announces 31 Percent Increase To Quarterly Cash Dividend

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MOORESVILLE, N.C., May 27, 2022 /PRNewswire/ -- The board of directors of Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of one dollar and five cents ($1.05) per share, payable August 3, 2022, to shareholders of record as of July 20, 2022. This represents a 31 percent increase over the company's previous quarterly dividend of eighty ($0.80) cents per share.

Lowe's Companies, Inc. Logo. (PRNewsFoto/Lowe's Companies, Inc.)
Lowe's Companies, Inc. Logo. (PRNewsFoto/Lowe's Companies, Inc.)

"I am pleased with the meaningful progress that we have made in our journey to becoming a world-class omnichannel retailer, and I am excited about the opportunities that lie ahead," said Marvin R. Ellison, Lowe's chairman, president and CEO. "Today's dividend increase reflects the strength and consistency of our cash flow and our continued commitment to returning capital to our shareholders."

Lowe's has paid a cash dividend every quarter since going public in 1961, and it has increased the dividend for more than 25 consecutive years.

About Lowe's

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 19 million customer transactions a week in the United States and Canada. With fiscal year 2021 sales of over $96 billion, Lowe's and its related businesses operate or service nearly 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Disclosure Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements.  Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives, business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services, share repurchases, Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results.  Such statements involve risks and uncertainties, and we can give no assurance that they will prove to be correct.  Actual results may differ materially from those expressed or implied in such statements.

A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages, and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, armed conflicts, acts of both domestic and international terrorism, and other factors that can negatively affect our customers.

Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law.

LOW-IR

Contacts:

Shareholder/Analyst Inquiries:


Media Inquiries:


Kate Pearlman


Steve Salazar


704-775-3856


704-758-4345


kate.pearlman@lowes.com


steve.j.salazar@lowes.com

Cision
Cision

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SOURCE Lowe's Companies, Inc.

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