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Lowe's increases quarterly cash dividend by 17%

Lowe's Cos. Inc. said June 1 that its board declared a quarterly cash dividend of 48 cents per share, up 17% from its previous quarterly cash dividend of 41 cents.

The dividend will be paid Aug. 8 to shareholders of record as of July 25.

Shareholders of the home improvement retailer also elected David Batchelder, Brian Rogers and Lisa Wardell to the company's board of directors. The company also disclosed the retirement of Robert Johnson from the board.

The shareholders also ratified the appointment of Deloitte & Touche LLP as the company's independent auditor for fiscal 2018.