PPG Dividend Inches Higher
- July 15, 2010
- Dividend News, Dividend Stocks
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PPG Industries (PPG: 92.03 +0.46%) announced today that the company will increase their quarterly dividend by 2% to $.55 per share.
The $.01 per share increase will leave PPG’s current yield unchanged at 3.4%.
PPG is a member of the exclusive dividend aristocrats club and the company has been paying dividends for over a century. However, investors may have been hoping for a larger increase as shares of PPG were down 1.3% following the dividend announcement.
“We are pleased to continue PPG’s tradition of returning cash to our shareholders,” said Charles E. Bunch, PPG chairman and chief executive officer. “This marks our second quarterly dividend rate increase within a year and demonstrates the confidence we have in the strength and consistent cash generation of our global business portfolio.”
The dividend will be payable on September 10, 2010 to shareholders of record as of August 10, 2010.
