UPDATE: Home Depot Posts Upbeat Q4 Profit, Lifts Dividend

Home Depot HD reported a better-than-expected fourth-quarter profit and raised its quarterly dividend by 21%. Home Depot's quarterly earnings per share surged to $0.73 versus $0.68 in the year-earlier period. However, its net profit fell to $1.01 billion versus $1.02 billion. Its sales declined 3% to $17.7 billion. However, analysts were estimating earnings of $0.71 per share on sales of $17.9 billion. Its same-store sales also gained 4.4% in the quarter. Home Depot lifted its quarterly dividend by 21% to $0.47 per share. Home Depot shares closed at $77.87 yesterday.