Corning Incorporated’s (NYSE: GLW) Board of Directors recently declared a quarterly dividend of $0.155 per share, a 14.8% increase in the company’s quarterly common stock dividend. The 2017 first-quarter dividend is payable on March 31, 2017, to shareholders of record on Feb. 28, 2017.
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 achieved key milestones, including the return of $6 billion to shareholders by increasing the dividend 12.5% and repurchasing 22% of its outstanding shares; and completing the realignment of Dow Corning Corporation, which unlocked tremendous value for shareholders.
Wendell P. Weeks, chairman, chief executive officer and president, said, “Today’s action is another significant step toward meeting our goal of distributing more than $12.5 billion to shareholders through a combination of share repurchases and dividend increases of at least 10% annually through 2019.”