At its annual meeting Friday, Lowe’s CEO Robert Niblock said that uncertainty remains in the marketplace, but the Mooresville, N.C.-based company is increasingly leveraging technology to build stronger relationships with customers.
"The consumer continues to change at an unprecedented rate, and these initiatives will ultimately create a customer experience that is both omni-channel and relevant throughout every stage of the home improvement process," Niblock said. "That's the future we're striving every day to realize."
Niblock said the company's organizational changes and strategic investments, including last year's $900 million technology upgrade, are helping Lowe's create a differentiated experience that is simple and seamless across all selling channels.
The Lowe’s board of directors declared a 14.3% increase in its quarterly cash dividend to 16 cents per share, payable August 8, 2012, to shareholders of record as of July 25, 2012. Lowe's has declared a cash dividend each quarter since going public in 1961.
During the meeting, shareholders re-elected board members Raul Alvarez, David W. Bernauer, Leonard L. Berry, Peter C. Browning, Richard W. Dreiling, Dawn E. Hudson, Robert L. Johnson, Marshall O. Larsen, Richard K. Lochridge, Robert A. Niblock and Eric C. Wiseman to one-year terms.
Shareholders ratified Deloitte & Touche as the company's independent public accountant.