RTTNews | Feb 23, 2021 06:09AM EST

06:09 Tuesday, February 23, 2021 (RTTNews.com) - The Home Depot (HD) announced that its board of directors approved an increase in its quarterly dividend by 10.0 percent to $1.65 per share, which equates to an annual dividend of $6.60. The dividend is payable on March 25, 2021, to shareholders of record on the close of business on March 11, 2021.

Fourth quarter earnings per share was $2.65, up 16.2 percent from prior year. Net earnings was negatively impacted by non-recurring, pre-tax expenses related to the completion of the acquisition of HD Supply Holdings, Inc., which totaled approximately $110 million, or $0.09 per share.

Fourth quarter sales were $32.3 billion, an increase of 25.1 percent from prior year. Comparable sales for the fourth quarter rose 24.5 percent, and comparable sales in the U.S. increased 25.0 percent.

"As we look ahead to fiscal 2021, if the demand environment during the back half of fiscal 2020 were to persist through fiscal 2021, it would imply flat to slightly positive comparable sales growth and operating margin of at least 14 percent," said Richard McPhail, CFO.

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