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Corning boosts quarterly dividend by 16 percent

By Journal Staff

Date:

CORNING, N.Y. — Corning Incorporated (NYSE: GLW) announced that its board of directors has increased its quarterly dividend by 16 percent to 18 cents per share from the 15.5 cents it paid last quarter.

The new dividend is payable on March 29, to shareholders of record on Feb. 28.

In October 2015, Corning’s management announced a strategy and capital allocation framework that outlines the company’s 2016-2019 leadership priorities. Since the framework was announced, Corning said it has returned $9 billion to shareholders through dividends, which have increased by 29 percent, and buying back about 30 percent of the company’s shares outstanding.

“We are halfway through our four-year Strategy and Capital Allocation Framework. We have returned over $9 billion of a planned $12.5 billion to shareholders through stock buybacks and increased dividends. Today’s announcement is yet another step forward in meeting our shareholder commitments,” Wendell P. Weeks, chairman, CEO, and president of Corning, said in a news release.

Corning Inc. is headquartered at One Riverfront Plaza in Corning. The firm employs 45,000 people globally. The communications firm and glass maker generated $10.1 billion in net sales in 2017.

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