Boston, MA 05/30/2014 (wallstreetpr) – Lowe’s Companies, Inc. (NYSE:LOW) intends to return more money to shareholders this year as it has always strived to do in the past. The home improvement retailer boosted its share repurchase program by $5 billion to $6.3 billion as of January this year. The boost in repurchase program comes as the company promised positive performance this year because of the improving market conditions in the housing sector.
The company realized 2.4 percent increase in sales in 1Q to $13.4 billion. The growth in sales at Lowe’s Companies, Inc. (NYSE:LOW) was lower than that of rival Home Depot (DH) whose sales in the latest quarter grew by 2.6 percent.
Lowe’s blamed the poor sales growth in 1Q on the prolonged harsh winter weather. However, the actual bottom-line digits at Lowe’s were not all that disappointing. The company earned 61 cents per share, ahead of 49 cents per share in the same quarter a year earlier.
The management of Lowe’s expects fiscal 2014 earnings of $2.60 per share. Initially, it expected earnings of $2.63 per share.
Marathon Oil Corporation (NYSE:MRO) intends direct its focus on productive areas. The company is determined to divest noncore assets and channel the proceeds in its productive business. The company already has many things to show for its heavy investment rich shale. MRO will pay cash dividend of 19 cents per share on June 10 to shareholders of record as of May 21.
Navient Corp (NASDAQ:NAVI) will buy back its own shares worth $400 million. The company’s board of directors approved the buyback program and said the buyback program does not have an expiration date. Additionally, the board approved a quarterly dividend of 15 cents per share to be paid on June 20 to shareholders of record as of June 6. The board is boosting the reward to shareholders in a show of confidence in the business. Shares of the company are down 7.53 percent since the beginning of 2014.
