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Dividend Growth Idea Home Depot Raises Payout as Its Growth Story Continues

publication date: Mar 22, 2022
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Image Shown: Dividend growth idea Home Depot Inc has put up strong financial performance of late. Image Source: Home Depot Inc – Fourth Quarter of Fiscal 2021 Supplemental Material. 

Demand for home improvement and construction activities remains strong according to Home Depot Inc, an idea in the Dividend Growth Newsletter portfolio. When Home Depot reported its fourth quarter earnings for fiscal 2021 (period ended January 30, 2022) in February 2022, the company beat both consensus top- and bottom-line estimates. Home Depot also announced a 15% sequential increase in its dividend and issued out favorable guidance for fiscal 2022 in conjunction with its latest earnings report. The company’s new quarterly payout sits at $1.90 per share or $7.60 per share on an annualized basis. Shares of HD yield ~2.3% as of this writing.

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