What is the purpose of the $15 billion share repurchase program?

The share repurchase program aims to enhance shareholder value.

The Home Depot Declares Second Quarter Dividend of $1.90 and Announces $15 Billion Share Repurchase Authorization

The Home Depot has declared a cash dividend of $1.90 per share for the second quarter, payable on September 15, 2022.

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Rhea-AI Summary

The Home Depot has declared a cash dividend of $1.90 per share for the second quarter, payable on September 15, 2022. This marks the company’s 142nd consecutive dividend payment, highlighting its strong financial position. Additionally, the board authorized a new $15 billion share repurchase program, replacing the previous one, aimed at enhancing shareholder value. The company's stock is traded on the NYSE under the ticker HD, with operations across 2,316 retail stores in North America.

Positive

Authorized a new $15 billion share repurchase program to enhance shareholder value.
Declaring a $1.90 cash dividend reflects strong financial health.
142 consecutive quarters of cash dividends demonstrates commitment to shareholders.

Negative

None.

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News Market Reaction – HD

The recorded move for HD in the trading session of this news was -1.20%.

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08/18/2022 - 05:00 PM EDT

ATLANTA, Aug. 18, 2022 /PRNewswire/ -- The Home Depot^®, the world's largest home improvement retailer, today announced that its board of directors declared a second quarter cash dividend of $1.90 per share. The dividend is payable on September 15, 2022, to shareholders of record on the close of business on September 1, 2022. This is the 142nd consecutive quarter the company has paid a cash dividend.

The board of directors also authorized a new $15 billion share repurchase program, replacing its previous authorization.

The Home Depot is the world's largest home improvement specialty retailer. At the end of the second quarter, the Company operated a total of 2,316 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-home-depot-declares-second-quarter-dividend-of-1-90-and-announces-15-billion-share-repurchase-authorization-301608881.html

SOURCE The Home Depot

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the dividend amount declared by Home Depot in 2022?

Home Depot declared a cash dividend of $1.90 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on September 15, 2022.

How many retail stores does Home Depot operate?

Home Depot operates a total of 2,316 retail stores across North America.

What is Home Depot's stock symbol?

Home Depot's stock is traded on the NYSE under the symbol HD.

The Home Depot Declares Second Quarter Dividend of $1.90 and Announces $15 Billion Share Repurchase Authorization