Home Depot Issues FY22 Guidance; Increases Quarterly Dividend

(RTTNews) - The Home Depot (HD) said, for fiscal 2022, the company projects: sales growth and comparable sales growth to be slightly positive; and earnings per share growth to be low single digits.

Fourth quarter net earnings were $3.4 billion, or $3.21 per share, compared to $2.9 billion, or $2.65 per share, a year ago. Analysts on average had expected the company to earn $3.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Sales were $35.7 billion, an increase of 10.7 percent. Comparable sales for the fourth quarter increased 8.1 percent, and comparable sales in the U.S. increased 7.6 percent.

For fiscal 2021, earnings per share increased 30.1 percent from last year. Comparable sales increased 11.4 percent, and comparable sales in the U.S. increased 10.7 percent.

The company also announced that its board approved a 15 percent increase in its quarterly dividend to $1.90 per share, which equates to an annual dividend of $7.60 per share. The dividend is payable on March 24, 2022, to shareholders of record on the close of business on March 10, 2022.

Shares of The Home Depot, Inc. were up 1% in pre-market trade on Tuesday.