Why Home Depot Stock Popped by Nearly 4% on Friday

Core Viewpoint - Home Depot has declared a new quarterly dividend of $2.30 per share, which has positively impacted its stock price, leading to a nearly 4% increase in trading, outperforming the S&P 500 index's 1.5% rise [1][2]. Dividend Announcement - Home Depot's board of directors announced a quarterly dividend of $2.30 per share, to be paid on September 18 to shareholders of record as of September 4, resulting in a dividend yield of 2.2% based on the recent closing share price [2]. - This marks the 154th consecutive quarter that Home Depot has paid a dividend, highlighting its commitment to returning value to shareholders [4]. Financial Performance - In the recent second-quarter earnings report, Home Depot reported a total revenue increase of nearly 5% year-over-year, although global same-store sales growth was modest at 1% [5]. - The company's performance was generally in line with analyst expectations, and management's positive comments regarding pricing and guidance contributed to favorable investor sentiment [5].