Corning Increases Dividend Payout
03 Outubro 2012 - 1:45PM
Business Wire
Corning Incorporated’s (NYSE:GLW) Board of Directors today
declared a 20% increase in the company’s quarterly common stock
dividend. Corning’s quarterly dividend will rise to $0.09 per share
of common stock held, versus $0.075 per share previously. The
increase will result in Corning’s dividends rising to $0.36 per
share on an annual basis. The fourth-quarter dividend will be
payable on Dec. 14, 2012 to holders of record Nov. 16, 2012.
“Corning continues to generate strong cash flow from all of our
businesses and we have done so for some time now,” Wendell P.
Weeks, chairman, chief executive officer and president, said. “We
believe our operating cash flow generation will continue, and
combined with lower capital spending, give the company more
financial flexibility. It has been a priority of our board of
directors and mine to return a portion of our cash flow to our
investors to enhance their total shareholder return. Raising the
dividend allows us to do so.”
“Corning is a financially strong company, and this strength
allows us to continue investing in our research and development
portfolio to provide future growth for the company,” he said.
Separately, Corning said it will announce its third-quarter
financial results on Oct. 24.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning’s financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning’s filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on more than 160 years of
materials science and process engineering knowledge, Corning
creates and makes keystone components that enable high-technology
systems for consumer electronics, mobile emissions control,
telecommunications and life sciences. Our products include glass
substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy, and metrology.
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