--(www.USEquityNews.com)-- 08/25/2008 - FinancialNewsUSA.com provides market update. Home Building has been down to a 17 year low and building suppliers like Home Depot (NYSE:HD), Lowe's Companies Inc (NYSE: LOW), (NYSE: LL) are trading down.
Even with hurricane season coming, the outlook for increase in sales is not looking good. A major hurricane with severe devastation might help rebound the stocks slightly, but that will not help with the housing industry on a downward trend. Home builders such as Centex Corporation (NYSE: CTX) are also trading down with the downturn in housing supposedly seeing the bottom at the end of this year. With a weakening economy and the increased inventory of homes for sale, 2009 doesn't look good as well.
Update on dividend issuance by Home Depot Inc and Lowe's Companies Inc.:
The Board of Directors for Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash dividend of eight and one-half cents ($0.085) per share, payable October 31, 2008, to shareholders of record as of October 17, 2008.
With fiscal year 2007 sales of $48.3 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 14 million customers a week at more than 1,575 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world.
Home Depot Inc. (NYSE: HD) has announced its board of directors declared a regular quarterly cash dividend of 22.5 cents.
The home improvement retailer said the dividend is payable Sept. 18 to shareholders of record Sept. 4.
