Home Construction Doing Well

Home improvement retailer The Home Depot (HD: 24.57 +0.82%) announced today that their Board of Directors has approved a first quarter dividend of $.225 per share.

Home Depot’s current dividend yield now stands at 4.0%.

The dividend is payable on June 25, 2009 to shareholders of record as of June 11, 2009.

This will mark the 89^th consecutive quarter that Home Depot has paid a quarterly cash dividend.

Home Depot’s shares finished the day down 2.7% to $22.70. Since the beginning of 2009, HD’s shares have only fallen slightly over 1%. Even in 2008, the stock fell less than 15% as it easily outperformed the 34% decline in the Dow Jones index.