|CHARLOTTE, NC -- Lowe's announced a two-for-one split of its common shares for shareholders holding stock as of June 16, 2006. Investors will receive one share for every share held.
The company also announced a 67 percent increase in the quarterly cash dividend to $0.10 per share; $0.05 per share on a post-split basis. This dividend will be paid on August 4, 2006 to shareholders of record on July 21, 2006.
"Today's stock split allows greater opportunity for stock ownership by our employees and customers, and our dividend increase demonstrates our commitment to returning capital to shareholders," said Robert A. Niblock, Lowe's chairman, president and CEO.
This eUpdate posting by: Steve Joyce, Editor