10 Best Dividend Monarchs to Invest in Now

5. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 70

Lowe’s Companies, Inc. (NYSE:LOW) is a North Carolina-based home improvement company. It has recently sharpened its focus on key strategic areas to strengthen its competitive edge. The company has been working to improve its digital presence, optimize supply chain efficiency, and deepen customer engagement through enhanced technology. By emphasizing an omnichannel approach—seamlessly integrating its online and physical store operations—Lowe’s aims to maintain steady profitability and deliver a smooth shopping experience across platforms.

In the fourth quarter of 2024, Lowe’s Companies, Inc. (NYSE:LOW) posted a revenue of $18.55 billion. Although this marked a slight year-over-year dip of 0.3%, earnings surpassed expectations by $260 million. Comparable sales edged up by 0.2%, buoyed by solid gains in the Pro segment, strong digital activity, a successful holiday season, and post-hurricane recovery efforts.

By year-end, Lowe’s Companies, Inc. (NYSE:LOW) held $1.8 billion in cash and equivalents—almost doubling the previous year’s figure of $921 million. Operating cash flow rose to $9.7 billion from $8.1 billion in 2023, and the company returned $6.5 billion to shareholders via dividends and share buybacks. Due to this cash position, Lowe’s has one of the longest dividend growth track records, spanning 59 years. Its quarterly dividend comes in at $1.15 per share and has a dividend yield of 2.09%, as of April 15.