Home Depot Is Paying $9 per Share in Dividends. Time to Buy the Stock?
Home Depot (NYSE: HD) shareholders are in for a treat. The home improvement retailer just announced its dividend increase for the 2024 fiscal year, and it was a significant hike. The higher payout will hit investors' portfolios in late March, assuming they own Home Depot shares as of March 7.
A bigger dividend is a good reason to consider buying this stock, but it's not the main factor that will influence your long-term returns. Let's take a closer look at whether Home Depot is still a good buy for patient investors today.
In late February, Home Depot announced that its dividend will be rising to $9 per share on an annual basis, or $2.25 per share each quarter. That works out to a 2.5% yield based on current prices. It's an 8% increase compared to last year, which might disappoint investors a bit considering that the chain raised its dividend by 10% in 2023.
Source Fool.com
