Home Depot Q4 sales were $22.2 billionStaff Writer |
Home Depot Sales would grow approximately 4.6 percent
Home Depot said it expects fiscal 2017 earnings per share growth after anticipated share repurchases of approximately 10.5 percent, or $7.13.
The company also expects gross margin decrease of approximately 15 basis points and operating margin expansion of approximately 30 basis points.
In its fourth quarter, net earnings were $1.7 billion, or $1.44 per share, compared with net earnings of $1.5 billion or $1.17 per share last year. Earnings per share increased 23.1 percent.
Home Depot's sales were $22.2 billion for the fourth quarter, a 5.8 percent increase from last year's $20.98 billion. Comparable store sales were positive 5.8 percent, and comp sales for U.S. stores were positive 6.3 percent.
Further, the company said its targeted dividend payout ratio will be increased to 55 percent of net earnings from 50 percent.
The board of directors declared a 29 percent increase in the quarterly dividend to $0.89 per share.
In addition, the board has authorized a $15 billion share repurchase program, replacing its previous authorization. ■
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