Five Dividend Kings to Buy Based on Billionaire Investors’ Sentiment

The second-largest home improvement retailer in the world Lowe’s Companies, Inc. (NYSE:LOW) is also the second favorite dividend king among billionaire investors followed by Insider Monkey. At the end of December, nine billionaires reported long positions in the company (unchanged over the quarter) with a total value of $1.22 billion. Among the largest shareholders of the company are Citadel Investment Group and billionaire Israel Englander’s Millenniun Management, which own 5.54 million shares and 2.89 million shares, respectively.

Lowe’s Companies, Inc. (NYSE:LOW)’s stock has gained 118% for the last decade and sports a yield of 1.49%. The company yesterday announced a quarterly dividend of $0.28 per share that will be paid on May 4 to shareholders as of April 20. Lowe’s Companies has benefitted from the low interest rate environment, which led to a housing market growth, and as a result benefitted most home-improvement retailers. Seeing as the Fed is not rushing into raising the interest rates and the unemployment rate in the US remains at some of the lowest levels, Lowe’s Companies, Inc. (NYSE:LOW) is likely to see a strong top line. Moreover, the company is taking steps towards narrowing the gap with Home Depot Inc (NYSE:HD), such as the recent acquisition of Canadadian home improvement retailer Rona for $2.28 billion, which will expand its international presence.