News Release
| Lowe’s Holds Annual Meeting of Shareholders |
Niblock Says the Company Will Deliver Differentiated Customer Experiences Board of Directors Declares a 14.3 Percent Increase in Quarterly Cash Dividend
While uncertainty remains in the marketplace, Niblock said Lowe’s is
increasingly leveraging technology to build stronger relationships with
customers. Niblock said the company’s organizational changes and
strategic investments, including last year’s “The consumer continues to change at an unprecedented rate, and these initiatives will ultimately create a customer experience that is both omnichannel and relevant throughout every stage of the home improvement process,” Niblock said. “That’s the future we’re striving every day to realize.” Niblock thanked shareholders and Lowe’s employees for their ongoing dedication and support as the company continues to grow both domestically and internationally.
The board of directors declared a 14.3 percent increase in its quarterly
cash dividend to
During the meeting, shareholders re-elected board members Shareholders ratified Deloitte & Touche as the company’s independent public accountant and approved the company’s executive compensation plan. Shareholders also approved the amendment to the company’s employee stock purchase plan. A shareholder proposal regarding executive stock retention requirements was defeated. Disclosure Regarding Forward-Looking Statements
This news release includes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995 (the
“Act”). Statements of the company’s expectations for sales growth,
comparable store sales, earnings and performance, shareholder value,
capital expenditures, store openings, the housing market, the home
improvement industry, demand for services, share repurchases, the
Company’s strategic initiatives and any statement of an assumption
underlying any of the foregoing, constitute “forward-looking statements”
under the Act. Although we believe that the expectations, opinions,
projections and comments reflected in these forward-looking statements
are reasonable, we can give no assurance that such statements will prove
to be correct. A wide variety of potential risks, uncertainties and
other factors could materially affect our ability to achieve the results
either expressed or implied by our forward-looking statements including,
but not limited to, changes in general economic conditions, such as
continued high rates of unemployment, interest rate and currency
fluctuations, higher fuel and other energy costs, slower growth in
personal income, changes in consumer spending, changes in the rate of
housing turnover, the availability and increasing regulation of consumer
credit and of mortgage financing, inflation or deflation of commodity
prices and other factors that can negatively affect our customers, as
well as our ability to: (i) respond to adverse trends in the housing
industry, such as the psychological effects of lower home prices, and in
the level of repairs, remodeling and additions to existing homes, as
well as a general reduction in commercial building activity; (ii)
secure, develop and otherwise implement new technologies and processes
designed to enhance our efficiency and competitiveness; (iii) attract,
train and retain highly qualified associates; (iv) manage our business
effectively as we adapt our traditional operating model to meet the
changing expectations of our customers; (v) to maintain, improve,
upgrade and protect our critical information systems; (vi) respond to
fluctuations in the prices and availability of services, supplies and
products; (vii) respond to the growth and impact of competition; (viii)
address changes in existing or new laws or regulations that affect
consumer credit, employment/labor, trade, product safety,
transportation/logistics, energy costs, health care, tax or
environmental issues; and (ix) respond to unanticipated weather
conditions that could adversely affect sales. In addition, we could
experience additional impairment losses if the actual results of our
operating stores are not consistent with the assumptions and judgments
we have made in estimating future cash flows and determining asset fair
values. For more information about these and other risks and
uncertainties that we are exposed to, you should read the “Risk Factors”
and “Critical Accounting Policies and Estimates” included in our Annual
Report on Form 10-K to the
The forward-looking statements contained in this news release are based
upon data available as of the date of this release or other specified
date and speak only as of such date. All subsequent written and oral
forward-looking statements attributable to us or any person acting on
our behalf about any of the matters covered in this release are
qualified by these cautionary statements and the “Risk Factors” included
in our Annual Report on Form 10-K to the
With fiscal year 2011 sales of
Source: Lowe’s
Lowe’s Companies, Inc.
|