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June 29, 2020, 8:38 a.m. EDT

Lowe's to pay front-line workers $100 million in bonuses during coronanvirus pandemic

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By Ciara Linnane

Lowe's Cos. /zigman2/quotes/205563664/composite LOW +0.40% said Monday it is increasing its spending on workers and communities during the coronavirus pandemic to $450 million, including $100 million to be paid in bonuses to front line workers. The home-improvement retailer said all active hourly workers in its U.S. stores, distribution centers and store support centers will be paid the bonuses in mid-July. Full-time workers will get $300 and part-time and seasonal workers will be paid $150, matching the sums paid in March and May. Lowe's has also increased pay for full-time, part-time and seasonal associates by $2 per hour for the month of April. In June, it announced profit-sharing bonuses and is still offering telemedicine to all workers, even those who are not enrolled in its medical plans. Shares were up 0.5% premarket and have gained 8% in the year to date, outperforming the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% , which is down 7%.

/zigman2/quotes/205563664/composite
US : U.S.: NYSE
$ 150.86
+0.60 +0.40%
Volume: 886,082
Aug. 6, 2020 11:40a
P/E Ratio
25.44
Dividend Yield
1.46%
Market Cap
$113.45 billion
Rev. per Employee
$230,029
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/zigman2/quotes/210599714/realtime
US : S&P US
3,322.57
-5.20 -0.16%
Volume: 940.04M
Aug. 6, 2020 11:40a
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