Home Depot to pay staff bonus after tax overhaul

(Reuters) - Home Depot Inc <HD.N> said it would give its U.S. employees a new one-time cash bonus of up to $1,000 for hourly associates in the fourth quarter as the home improvement store chain takes advantage of changes in the U.S. tax code.

The company said it expects to incur a net tax expense of about $150 million in the fourth quarter, related to taxes on unremitted offshore earnings.

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The company said it would revise its 2017 diluted earnings per share guidance lower by about 19 cents to reflect cash bonuses and the charge.

(Reporting by Sangameswaran S in Bengaluru; Editing by Saumyadeb Chakrabarty)

 

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