Home Depot Stock Rises Nearly 4% on Dividend Announcement

Home Depot (HD) shares surged almost 4% on Friday, outperforming the broader market's 1.5% gain. The rally followed the company's declaration of a $2.30 quarterly dividend, payable September 18 to shareholders of record as of September 4. At current prices, the dividend yields 2.2%, nearly double the S&P 500 average.

The home improvement retailer emphasized this marks its 154th consecutive quarterly payout, reinforcing its appeal to income investors. Dividend consistency and growth remain central to Home Depot's shareholder value proposition.

Investors reacted positively despite modest Q2 earnings showing 5% revenue growth but only 1% same-store sales increase globally. The market appears to reward reliable income streams amid uncertain macroeconomic conditions.