15 Best Dividend Stocks to Buy for Long-Term Passive Income

6. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 70

Lowe’s Companies, Inc. (NYSE:LOW) is an American home improvement company, headquartered in North Carolina. The company has recently refined its strategic priorities to enhance its competitive position. Efforts have been directed toward strengthening its digital capabilities, streamlining its supply chain, and deepening customer relationships through upgraded technology. By focusing on an omnichannel strategy that blends online and in-store operations, the company aims to maintain stable profitability while offering customers a consistent and seamless shopping experience.

In the fourth quarter of 2024, Lowe’s Companies, Inc. (NYSE:LOW) reported revenue of $18.55 billion, reflecting a slight year-over-year decline of 0.3%. However, earnings exceeded expectations by $260 million. Comparable sales saw a modest 0.2% increase, supported by strong performance in the Pro customer segment, increased digital engagement, a successful holiday season, and recovery efforts following a hurricane.

By the end of the year, Lowe’s Companies, Inc. (NYSE:LOW) held $1.8 billion in cash and equivalents, nearly double the $921 million reported at the end of 2023. Operating cash flow rose to $9.7 billion from $8.1 billion the prior year. The company returned $6.5 billion to shareholders through dividends and share repurchases. Thanks to its solid financial footing, Lowe’s maintains one of the longest streaks of dividend growth in the market, spanning 59 consecutive years. Its quarterly dividend comes in at $1.15 per share and has a dividend yield of 2.07%, as of April 24.