For 60 years, Lowe’s has been increasing its dividend.

Last Updated: 5. März 2024By

As you may know, companies that have consistently increased their dividends for at least 25 years in a row are called dividend aristocrats. If the payout has been increasing for at least 50 years, they are known as dividend kings. Lowe’s belongs to this rare species. The US hardware store chain has continuously raised its dividend for 60 years now.

But the stock is not only interesting for investors who focus on dividends. Trend followers should also take a look at the stock. There is strong evidence that the long-term uptrend, after an extended consolidation, is now continuing.

Lowe’s: second largest hardware store chain in the US For those of you who are not familiar with Lowe’s, let me introduce the company first. The corporation from Mooresville, North Carolina, was founded in 1946. Today, Lowe’s operates over 2,000 hardware stores in numerous US states, Canada, and Mexico.

This makes the company the second largest home improvement chain in the US (after Home Depot). Lowe’s primarily focuses on DIY customers, skilled workers, or construction companies. On average, the stores are approximately 11,000 square meters in size and offer a range of more than 40,000 products.

Exceeded expectations Recently, American consumers have been spending less on renovations. In the fourth quarter of the 2023/2024 fiscal year (until January), Lowe’s therefore experienced a decline in sales, but performed better than expected. Revenues fell by 17% to $18.60 billion. However, the company still earned around 7% more than the previous year with $1.02 billion. With earnings of $1.77 per share, the company clearly exceeded analyst expectations of $1.68.

Like industry leader Home Depot, Lowe’s also expects a slower recovery in the DIY market. For the full year, the company expects a 2 to 3% decline in comparable sales. However, demand is expected to pick up again in the second half of the year.


Long-term uptrend ready to continue The slightly weaker business performance has led to an extended consolidation since early 2022. However, there is now strong evidence that the long-term uptrend is continuing.

The downtrend from the all-time high has recently been broken. This means that an attack on the record high of $263 is now expected. If the breakout to new highs succeeds, the round $300 mark is a realistic medium-term target.