The Home Depot, the world's largest home improvement retailer, announced that its board of directors approved a first quarter dividend of 15 cents. This is the 77th consecutive quarter the Company has paid a cash dividend.
The dividend is payable on June 22, 2006, to shareholders of record on the close of business on June 8, 2006.
"The board's actions today demonstrate The Home Depot's commitment to generating shareholder returns," said Bob Nardelli, chairman, president & CEO. "Our strong financial discipline and clear growth strategy continue to deliver record results for our shareholders, as evidenced by our recently announced record earnings per share in the first quarter of fiscal 2006."
The Company increased its quarterly dividend by 50 percent in January 2006 and has increased the quarterly dividend by 275 percent over the past five years. In addition, since 2002, the Company has repurchased more than 344 million shares, or 15 percent of outstanding shares, including its recently announced $2 billion accelerated share repurchase.
Through dividends and share repurchases, the Company has returned over $15 billion to shareholders since 2001. The Home Depot demonstrates strong financial discipline, as evidenced by a return on invested capital of 24.2 percent for the first quarter of fiscal year 2006.
The Home Depot is the world's largest home improvement specialty retailer with 2,060 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, 10 Canadian provinces and Mexico.
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