Home Depot Dividend 2024, Increase Announcement, Record Date, Share Price, History

News: The Home Depot, the world’s largest home improvement retailer, recently announced its fourth-quarter and fiscal 2023 results. Let’s dive into the details of what this means for investors.

Key Highlights

Fourth Quarter 2023 Results:

1. Sales for Q4 2023 were $34.8 billion, a slight decrease from the same period in 2022.

2. Comparable sales in Q4 2023 decreased by 3.5%, with U.S. comparable sales down by 4.0%.

3. Net earnings for Q4 2023 were $2.8 billion, compared to $3.4 billion in Q4 2022.

4. Diluted earnings per share decreased by 14.5% year-on-year.

Fiscal 2023 Results:

1. Total sales for fiscal 2023 were $152.7 billion, down by 3.0% from fiscal 2022.

2. Comparable sales in fiscal 2023 decreased by 3.2%, with U.S. comparable sales down by 3.5%.

3. Net earnings for fiscal 2023 were $15.1 billion, compared to $17.1 billion in fiscal 2022.

4. Diluted earnings per share decreased by 9.5%.

Dividend Increase:

1. The Home Depot’s board of directors approved a 7.7% increase in its quarterly dividend.

2. The new quarterly dividend is $2.25 per share, resulting in an annual dividend of $9.00 per share.

3. Shareholders of record on March 7, 2024, will receive the dividend on March 21, 2024.

4. This marks the 148th consecutive quarter that the company has paid a cash dividend.

Fiscal 2024 Guidance:

1. The company expects total sales growth of approximately 1.0% for fiscal 2024, including the 53rd week.

2. The additional week is projected to add approximately $2.3 billion to total sales.

3. Comparable sales are expected to decline by approximately 1.0% for the 52-week period.

4. Approximately 12 new stores are planned.

5. Gross margin is estimated to be around 33.9%.

About Home Depot :

The Home Depot, founded in 1978 by Bernie Marcus and Arthur Blank, has transformed the retail industry with its revolutionary approach to home improvement. As the world’s largest home improvement retailer, The Home Depot operates over 2,300 stores across North America, including the United States, Canada, and Mexico. Our commitment to excellence extends to our customers, associates, communities, and shareholders. Let’s explore some key facts about The Home Depot:

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Origins and Growth:

• The first two Home Depot stores opened on June 22, 1979, in Atlanta, Georgia.

• These cavernous warehouses, spanning around 60,000 square feet each, stocked an impressive 25,000 products, far more than the average hardware store at the time.

• Today, The Home Depot’s typical store boasts 105,000 square feet of indoor retail space, complemented by a robust e-commerce platform offering over one million products for DIY enthusiasts and professional contractors.

Three-Legged Stool Approach:

The Home Depot follows a strategic framework known as the “three-legged stool”:

• Customers: Putting customers first is our guiding principle.
• Associates: We prioritize our dedicated associates who contribute to our success.
• Shareholders: Our commitment extends to creating value for shareholders.

Despite a year of moderation in 2023, The Home Depot remains optimistic about the future of home improvement. As they continue to invest strategically and serve their customers and communities, shareholders can look forward to the increased dividend and potential growth in a large and fragmented market.

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FAQs

Q: What’s the latest update from Home Depot?

A: Home Depot recently shared news about a 7.7% boost in its quarterly dividend.

Q: How did Home Depot fare in the fiscal year 2023?

A: Home Depot saw a dip in sales by 2.9% when compared to the previous year.

Q: Any insights into Home Depot’s growth strategy?

A: Home Depot is gearing up to open around 12 new stores as part of its plan to strengthen its presence in the home improvement market.