Cobb County-headquartered home improvement retail giant The Home Depot announced a dividend of $1.90 per share for the second quarter of 2022, payable on September 15, 2022, to shareholders of record on the close of business on September 1, 2022.
According to the news release announcing the dividend, this is the 142nd consecutive quarter the company has paid a cash dividend.
As of the publication of this article, the company’s stock price is $325.21 per share.
Ted Decker elected chair
In related news, CEO and President Ted Decker has been elected by the company’s Board of Directors to serve as chair, replacing Craig Menear, who will retire as chair effective Sept. 30, 2022.
“During Ted’s tenure as CEO and a member of the board, we have witnessed firsthand his passion for the customer experience and our associates, and we look forward to continuing to work with him as chair,” said Greg Brenneman, the board’s lead director. “On behalf of the Board of Directors, I want to thank Craig for his unwavering commitment to The Home Depot’s values and his visionary leadership, which established a solid foundation for the long-term success of the company.”
Decker started at The Home Depot in 2000 and became president and chief operating officer (COO) in October 2020. He became CEO effective March 1, 2022.
Before becoming COO he was the executive vice president of merchandising for the company.
He worked at Kimberly-Clark Corporation and Scott Paper Company before starting at the Home Depot.
His educational background includes a bachelor’s degree in English from the College of William and Mary and a master’s degree in business administration from Carnegie Mellon University.
About The Home Depot
The Home Depot was founded in 1978 after co-founders Bernie Marcus and Arthur Blank were fired from the Handy Andy home improvement chain in southern California.
The firing did not affect their career prospects adversely, as their fortunes demonstrated shortly thereafter.
They decided to go into business together, and opened three stores in Atlanta. From those three stores they grew into a giant in the home improvement retail industry.
According to company promotional materials:
The Home Depot is the world’s largest home improvement specialty retailer. The Company operates a total of 2,298 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2020, The Home Depot had sales of $132.1 billion and earnings of $12.9 billion. The Company employs approximately 500,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.