Atlanta, GA, Aug. 21--Home Depot raised its quarterly dividend 17% and said its board authorized an increase in the company's buyback program.
In a press release Thursday, the home improvement retailer said the dividend was raised by a penny to 7 cents.
It is payable Sept. 18 to shareholders of record Sept. 4.
Home Depot attributed the dividend increase to a strong second-quarter financial performance and its cash balance.
The company's share-buyback authorization program was increased by $500 million to $1 billion. The board approved the initial authorization in May.
On Tuesday, Home Depot posted a 10% increase in second-quarter net income, on an 11% increase in sales.
