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PPG Hikes Dividend By 11%


PPG Industries, Inc. (NYSE: PPG) said its board has approved 11 percent increase, or $0.04 a share, in the quarterly dividend rate to $0.40 a share. According to the company, the dividend is payable on June 10 to all the shareholders whose name appears on May 10, the record date.

PPG Industries said the previous dividend hike was 7 percent, which happened in the second quarter of the last year. The company's quarterly dividend was $0.36 per share. The latest dividend marked its 471st consecutive dividend payment. PPG has paid uninterrupted annual dividends since 1899.

The company's VP and CFO, Frank Sklarsky, said "This 11-percent increase in our per-share quarterly dividend reaffirms PPG's commitment to sustainable dividend increases as an integral part of our capital allocation strategy."

Shares of the company traded down 3.87 percent on Thursday.

Posted-In: News Dividends


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