The Board of Directors of PPG approved a 5-cents-per-share increase in the company’s dividend, declaring a regular quarterly dividend of 59 cents per share. The increase is payable Sept. 10 to shareholders of record Aug. 10.
This payment, coupled with the payment of a similar quarterly dividend in December, will mark 50 consecutive years of annual increases in the company’s dividend. The December dividend remains subject to approval from PPG’s Board of Directors in October.
PPG’s prior quarterly dividend was 54 cents per share.
“The 50-year milestone of annual dividend increases has been achieved by a very limited group of companies, and is a true testament to our company’s legacy of consistently rewarding our shareholders,” said Michael H. McGarry, PPG chairman and chief executive officer. “The increase is also a reflection of the strong confidence that PPG’s Board and management team have in our ability to continue to generate and grow our operating cash flow, which is now enhanced by the five recent acquisitions that we completed.”
This marks the company’s 492nd consecutive dividend payment. Through ongoing dedication and engagement of its workforce, the company has paid uninterrupted annual dividends since 1899.
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