MOORESVILLE, N.C., April 2 /PRNewswire-FirstCall/ -- The Board of
Directors for Lowe's Companies, Inc. (NYSE: LOW) has declared a quarterly cash
dividend of three cents ($0.03) per share, payable April 30, 2004, to
shareholders of record as of April 16, 2004.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO )
Lowe's has paid a cash dividend each quarter since going public in 1961.
The Board of Directors also announced it has voted to redeem the
shareholder rights plan (commonly known as a "poison pill") adopted in 1998.
The corporation will buy back the rights at the redemption price of one-
twentieth of a cent ($0.0005) per right. One-half of a right is attached to
each share of common stock. Payment of the rights redemption will be made
with the dividend payment.
With fiscal year 2003 sales of $30.8 billion, Lowe's Companies, Inc. is a
FORTUNE(R) 50 company that serves approximately 10 million customers a week at
more than 950 home improvement stores in 45 states. In 2004, FORTUNE named
Lowe's America's Most Admired Specialty Retailer for a second consecutive
year. Based in Mooresville, N.C., the 58-year old company is the second-
largest home improvement retailer in the world. For more information,
visit Lowes.com .
SOURCE Lowe's Companies, Inc.
/CONTACT: Shareholders' & Analysts' Inquiries, Paul Taaffe,
+1-704-758-2033, or Media Inquiries, Chris Ahearn, +1-704-758-2304, both of
Lowe's Companies, Inc./
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, firstname.lastname@example.org/
/Web site: http://www.lowes.com/
CO: Lowe's Companies, Inc.
ST: North Carolina
SU: DIV SRP
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8685 04/02/2004 13:30 EST http://www.prnewswire.com