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Dividend Growth Idea Home Depot Hikes Payout Nearly 8%!

publication date: Feb 20, 2024
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Image: Home Depot is working through some soft sales trends following robust home improvement spending during the pandemic, but the company’s free cash flow generation remains top notch. 

On February 20, Dividend Growth Newsletter portfolio holding Home Depot reported mixed fourth quarter results that showed revenue pressure in the period, but the company still beat expectations on both the top and bottom lines. We’re huge fans of Home Depot’s resilience through the ups and downs of the real estate market, and the company’s pace of dividend growth remains solid. Our fair value estimate of Home Depot stands at $369 per share, modestly higher than where it is trading, and the company has a strong 1.4x Dividend Cushion ratio, which speaks to future dividend expansion.


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