Wed, Feb. 3, 10:42 AM
Dec. 3, 2014, 2:41 PM
- Corning (GLW +2.6%) has hiked its quarterly dividend by 20% to $0.12/share. That's good for a 2.2% yield at current levels. The glass giant's Q1 dividend will be payable on March 31 to shareholders on record as of Feb. 27.
- Corning has also authorized a new $1.5B buyback. It launched a $2B buyback a year ago, and later used it to strike a $1.25B accelerated share repurchase deal with Citi.
- The announcement comes a day after Corning announced a deal to buy Samsung's optical fiber/cable unit, a move that bolsters the Asian presence of Corning's already-sizable optical fiber business. The company's optical communications sales totaled $698M in Q3, +7% Y/Y and equal to 26% of total revenue.
- Shares have rallied following the dividend/buyback announcement, and aren't far from a 52-week high of $22.37.
Apr. 24, 2013, 9:43 AMCorning Incorporated (GLW) declares $0.10/share quarterly dividend, 10% increase from prior dividend of $0.09. Forward yield 3.04%. For shareholders of record May 31. Payable June 28. Ex-div date May 29. (PR) | Apr. 24, 2013, 9:43 AM | 2 Comments
Apr. 24, 2013, 9:18 AM
In tandem with its Q1 report (I, II), Corning (GLW) has announced a new $2B stock buyback program to replace a $1.5B program that expired in December, and has hiked its quarterly dividend by a penny to $0.10/share. The buyback is good for repurchasing 10% of shares at current levels, and the dividend hike raises Corning's yield to 3%. Shares +2.7% premarket. (PR)| Apr. 24, 2013, 9:18 AM
Oct. 3, 2012, 12:51 PMCorning (GLW) declares $0.09/share quarterly dividend, 20% increase from prior dividend of $0.075. Forward yield 2.72%. For shareholders of record Nov 16. Payable Dec 14. Ex-div date Nov 14. (PR) | Oct. 3, 2012, 12:51 PM | 6 Comments
Jul. 18, 2012, 10:31 AMCorning (GLW) declares $0.075/share quarterly dividend, in line with previous. Forward yield 2.4%. For shareholders of record Aug 31. Payable Sep 28. ex-div date Aug 29. (PR) | Jul. 18, 2012, 10:31 AM | 2 Comments