Corning Announces Quarterly Dividend Increase of 11%
06 Fevereiro 2019 - 2:31PM
CORNING, N.Y.; FEBRUARY
6, 2019 - Corning Incorporated's (NYSE: GLW) Board of
Directors today declared a quarterly dividend of $0.20 per share,
an 11% increase in the company's quarterly common stock dividend.
The 2019 first-quarter dividend is payable on March 29, 2019, to
shareholders of record on February 28, 2019.
In October 2015, Corning's management announced a
Strategy and Capital Allocation Framework which outlines the
company's 2016-2019 leadership priorities. Since the Framework was
announced, the company has returned $11.8 billion to shareholders
through dividends, which have increased 67% and repurchasing
approximately 36% of its outstanding shares and delivered key
milestones across all five of its market-access platforms.
Wendell P. Weeks, chairman, chief executive
officer, and president, said, "We are now into our fourth year of
Corning's Framework which outlines the company's leadership
priorities. We are nearing our goal to deliver more than $12.5
billion to shareholders through stock buybacks and increased
dividends. Today marks the fourth consecutive year we have
increased shareholder dividends."
Caution Concerning
Forward-Looking 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 effects of acquisitions, dispositions and other
similar transactions by the Company, the effect of global business,
financial, economic and political conditions; tariffs and import
duties; currency fluctuations between the U.S. dollar and other
currencies, primarily the Japanese yen, New Taiwan dollar, euro,
Chinese yuan, and South Korean won; product demand and industry
capacity; competitive products and pricing; availability and costs
of critical components and materials; new product development and
commercialization; order activity and demand from major customers;
the amount and timing of our cash flows and earnings and other
conditions, which may affect our ability to pay our quarterly
dividend at the planned level or to repurchase shares at planned
levels; possible disruption in commercial activities due to
terrorist activity, cyber-attack, armed conflict, political or
financial instability, natural disasters, or major health concerns;
unanticipated disruption to equipment, facilities, IT systems or
operations; effect of regulatory and legal developments; ability to
pace capital spending to anticipated levels of customer demand;
rate of technology change; ability to enforce patents and protect
intellectual property and trade secrets; adverse litigation;
product and components performance issues; retention of key
personnel; customer ability, most notably in the Display
Technologies segment, to maintain profitable operations and obtain
financing to fund their ongoing operations and manufacturing
expansions and pay their receivables when due; loss of significant
customers; changes in tax laws and regulations including the Tax
Cuts and Jobs Act of 2017; and the potential impact of legislation,
government regulations, and other government action and
investigations.
For a complete listing of risks and other factors,
please reference the risk factors and forward-looking statements
described in our annual reports on Form 10-K and quarterly reports
on Form 10-Q. 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.
Web Disclosure
In accordance with guidance provided by the SEC regarding the use
of company websites and social media channels to disclose material
information, Corning Incorporated ("Corning") wishes to notify
investors, media, and other interested parties that it uses its
website
(http://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors, or
supplemental to information contained in this or other press
releases. The list of websites and social media channels that the
company uses may be updated on Corning's media and website from
time to time. Corning encourages investors, media, and other
interested parties to review the information Corning may publish
through its website and social media channels as described above,
in addition to the company's SEC filings, press releases,
conference calls, and webcasts.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science, with a more than 165-year track record of
life-changing inventions. Corning applies its unparalleled
expertise in glass science, ceramic science, and optical physics
along with its deep manufacturing and engineering capabilities to
develop category-defining products that transform industries and
enhance people's lives. Corning succeeds through sustained
investment in RD&E, a unique combination of material and
process innovation, and deep, trust-based relationships with
customers who are global leaders in their industries.
Corning's capabilities are versatile and
synergistic, which allows the company to evolve to meet changing
market needs, while also helping our customers capture new
opportunities in dynamic industries. Today, Corning's markets
include optical communications, mobile consumer electronics,
display technology, automotive, and life sciences vessels.
Corning's industry-leading products include damage-resistant cover
glass for mobile devices; precision glass for advanced displays;
optical fiber, wireless technologies, and connectivity solutions
for state-of-the-art communications networks; trusted products to
accelerate drug discovery and delivery; and clean-air technologies
for cars and trucks.
Media Relations
Contact:
Dan
Collins
(607) 974-4197
collinsdf@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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