NEW YORK ( TheStreet) -- Home Depot ( HD) is makeing disaster investment efforts this year such as its nationwide water effort to help educate and enable residents in drought-affected areas. The specialty retail company stock rose 5%, to $81.50 in midday trading and closed down slightly at $80.98. Home Depot is expected to reach a $1.88 annual dividend per share for this year.
Many of the company's several disaster preparedness initiatives such as its water conservation workshops could spur sales growth and contribute to home improvement recovery.
According to PWC, 20 of the 30 most costly insured catastrophes worldwide from 1970 to 2011 have occurred since 2001. With the exception of the 9/11 terrorist attacks, they were all natural disasters.
Home Depot hosted a slew of water conservation workshops at 1,977 of its U.S. stores in April of this year. "We're committed to helping our customers solve everyday home improvement challenges, and for many, water conservation is one of those challenges," said Joe McFarland, president of the Western Division for Home Depot.
"We have the products and our associates have the know-how to help our customers identify water-saving solutions and implement them at home. These workshops help us to share that knowledge and inspire residents to take action."
Home Depot also recently began selling a new collection of smart home mobile device controlled products earlier this month in close to 2,000 of its U.S. stores.