The Home Depot is doling out bonuses of up to $1,000 to U.S. hourly workers, becoming the latest major national employer to hand out checks after President Trump's corporate tax cut.
The home improvement chain said it would also continue to distribute "success sharing" payments tied to the company's financial performance.
Unlike national retailers Walmart and Starbucks, Home Depot did not announce plans to increase wages.
But Home Depot said in a statement that "amid the changing retail environment, the company intends to invest in its associates, its stores and the customer experience."
Workers with at least 20 years of experience will get the full $1,000 bonus, Home Depot spokesman Stephen Holmes said in an email. All hourly workers will get at least $200, he said.
At Walmart, bonuses of up to $1,000 were distributed to workers with at least 20 years of experience. Most workers were eligible for a few hundred dollars at most. Walmart also increased its minimum wage to $11.
Starbucks announced Wednesday that it would give hourly workers $500 bonuses and spend $120 million on wage hikes.
Dozens of other major national employers have also announced bonuses or wage increases, including JPMorgan Chase, the Walt Disney Co. and Wells Fargo.
Economists have argued that wage increases are more meaningful than one-time bonuses because they're permanent.
Retailers are among the biggest winners from Trump's tax cut. They typically pay high tax rates and thus will benefit most from the rate's cut from 35% to 21%.
Home Depot said it is still calculating the effect of the corporate tax cut but that it expects a positive impact in 2018. In the short-term, the company will pay a $150 million tax bill to bring offshore profits back to the U.S. in a move known as repatriation.
The company's stock rose 0.3% in pre-market trading to $206.85 on Thursday.
