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Actionable news in LOW: LOWE'S COMPANIES Inc,

Buy Lowe's For Its Dividend, Profit From Its Growth Later

NEW YORK (TheStreet) -- Shares of Lowe's (LOW - Get Report) , will begin trading ex-dividend on Monday. Although the broader market is seemingly in a downdraft, owed to uncertainty surrounding interest rates, the company's stock -- up about 5% on the year and 40% in 12 months -- continue to reach new highs.

Lowe's, headquartered in Mooresville, N.C., will make a cash payment of 28 cents a share that is scheduled to be paid on Nov. 4 to shareholders who purchased shares prior to the ex-dividend date.This marks the third straight quarter that Lowe's has paid the same 28-cent dividend. At the current stock price of around $70, its dividend yield is 1.6%, which I will concede is unimpressive, given that it's some 40 basis points below the 2% yield investors can receive from the S&P 500 (SPX)...


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