Home Depot reported better-than-expected results on Tuesday with profit up 36 percent for the fourth quarter. The home improvement store announced that it will be buying back $18 billion worth of shares. The company posted earnings of $1 per share with net sales up 8.3 percent to $19.16 billion. Cheap oil prices and a healthier looking job market encouraged Americans to spend more on renovations through 2014. Home Depot will increase its dividend from $0.47 to $0.59 per share and detailed plans to hire thousands more workers for the busy spring season. The retailer did warn that the strong dollar will impact 2015 earnings. The stock has soared around 44 percent over the last year.
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