Lowe's Companies: A Dividend King That Continues To Build Wealth

Dividend | Stock | Investing | Valuation

Lowe's Companies (LOW) turns 100 this year and has grown into an effective duopoly in the hardware and home improvement space across North America. Lowe's operates 1,974 stores with 1,734 across the United States and 240 stores in Canada.

Lowe's is working to take market share within the highly fragmented home improvement and hardware market. Part of that plan is to focus on gaining more "Pro" customers that choose Lowe's over competitors that will drive larger tickets as well as more repeat customers.

I've owned shares of Lowe's since mid-2017 and couldn't be more pleased with both the business and stock performance as the dividend has nearly doubled and the share price has gained over 150%.

Dividend History

The majority of my capital is invested in dividend growth stocks because the strategy made the most sense to me when I first began investing: find great companies with a history of growing dividend payments and pay a reasonable price for the asset.

LOW stock dividend historyImage by author; data source Lowe's Companies Investor Relations

According to the CCC list Lowe's Companies has a 59 year streak of annual dividend growth. That dates back to the early 1960's and covers the stagflation of the 1970s, the dotcom boom of the 90's, the housing bubble and still made it through the pandemic of 2020.

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