Lowe's Shareholders Defeat Health Care Proposal

During the meeting Lowe's Home Improvement shareholders also defeated the proposals to reincorporate in North Dakota and separate the roles of Chairman and CEO.

The home improvement giant said it has gained market share in each quarter in 2009. The trend has also continued in 2009. While the shareholders defeated health care reform principle proposal Lowe's raised the quarterly dividend to 9 cents.

Lowe's has paid cache dividents since going public in 1961.

The Chairman and CEO Robert A. Niblock said Lowe's Home Improvement will grow by focusing on customer and consumer needs, despite the pressure of the down economy. The company hopes that consumers will start big home improvement projects one the economy turns around.

Niblock thanked Lowe's 228,000 employees for their dedication in driving sales, managing expenses and delivering superior customer service. He also thanked the shareholders of Lowe's Home Improvement for their continuing support.