Home Depot Builds Dividend!

Home Depot is a great stock in my opinion and this additional hike of the dividend for the current year is music to my ears! 

ATLANTA, Nov. 16 /CNW/ — The Home Depot(R), the world’s largest home improvement retailer, today announced that its board of directors approved a third quarter cash dividend of 22.5 cents per share, an increase of 50 percent over the second quarter 2006 dividend of 15 cents and 125 percent higher than the third quarter 2005 dividend of 10 cents.

“For the second time this year, the board has increased the dividend by 50 percent, reinforcing our confidence in the Company’s strategic growth plans and our commitment to generate shareholder returns,” said Bob Nardelli, chairman, president & CEO. “While the housing market is challenging, our strong financial discipline and clear growth strategy allow us to reinvest in our retail stores and also return cash to our shareholders.”

Source: Globe

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