12 Best Retail Dividend Stocks to Buy Now

4. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 75

Lowe’s Companies, Inc. (NYSE:LOW)  has been operating for over a hundred years and was once the top home improvement retailer in the US. Today, it stands as the second-largest behind Home Depot, with more than 1,700 stores nationwide. The company previously had an international presence but has since exited markets in Australia, Mexico, and Canada.

Lowe’s Companies, Inc. (NYSE:LOW) remains well-positioned despite housing market concerns. When buying homes is difficult, homeowners often invest more in renovations, which supports long-term growth even if short-term spending slows. While consumer demand for home projects can shift with the economy, these trends are durable. As spending rebounds, Lowe’s should see renewed growth in upgrades and renovations.

The aging US housing stock, with most homes between 31 and 60 years old, also drives steady demand. Lowe’s Companies, Inc. (NYSE:LOW)’s focus on professional contractors, a growing sales segment, further strengthens its outlook.

Lowe’s Companies, Inc. (NYSE:LOW) is also gaining investors’ attention because of its status as a Dividend King. The company has grown its payouts for 60 consecutive years and currently offers a quarterly dividend of $1.20 per share. The stock has a dividend yield of 1.84%, as of September 22.