PPG Board of Directors announces quarterly dividend of 68 cents per share

Rhea-AI Summary

PPG's Board of Directors has declared a regular quarterly dividend of 68 cents per share, payable on Dec. 12 to shareholders of record Nov. 12. This marks 53 consecutive years of annual dividend increases and the company's 505th consecutive dividend payment. PPG has maintained uninterrupted annual dividends since 1899, showcasing its long-standing commitment to shareholder returns.

PPG (NYSE:PPG), headquartered in Pittsburgh, is a global leader in paints, coatings, and specialty materials. The company operates in over 70 countries and reported net sales of $18.2 billion in 2023. PPG serves customers in construction, consumer products, industrial, and transportation markets, as well as aftermarkets.

Positive

• Declared quarterly dividend of $0.68 per share
• 53 consecutive years of annual dividend increases
• 505th consecutive dividend payment
• Uninterrupted annual dividends since 1899
• Net sales of $18.2 billion in 2023
• Global presence in over 70 countries

Negative

• None.

Insights

Financial Analyst

PPG's announcement of a $0.68 quarterly dividend underscores its commitment to shareholder returns and financial stability. This marks the 53rd consecutive year of dividend increases and the 505th consecutive dividend payment, showcasing remarkable consistency. The company's ability to maintain uninterrupted dividends since 1899 demonstrates strong cash flow generation and prudent financial management.

While the dividend increase is positive, it's important to note that the $2.72 annual dividend represents a yield of approximately 1.8% based on current stock prices, which is modest compared to some industry peers. However, the long-term dividend growth trend is impressive and likely appreciated by income-focused investors.

PPG's reported net sales of $18.2 billion in 2023 and its global presence in over 70 countries indicate a robust business model. The company's diversified market exposure across construction, consumer products, industrial and transportation sectors provides some resilience against economic fluctuations.

Overall, while this dividend announcement doesn't significantly alter PPG's investment thesis, it reinforces the company's financial health and commitment to shareholder returns.

PITTSBURGH--(BUSINESS WIRE)-- The Board of Directors of PPG (NYSE:PPG) today declared a regular quarterly dividend of 68 cents per share, payable Dec.12 to shareholders of record Nov. 12.

This payment will mark 53 consecutive years of annual increases in the company’s dividend and is the 505th consecutive dividend payment. Through the ongoing dedication and engagement of its workforce, the company has paid uninterrupted annual dividends since 1899.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®

At PPG (NYSE: PPG), we work every day to develop and deliver the paints, coatings, and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $18.2 billion in 2023. We serve customers in construction, consumer products, industrial and transportation markets, and aftermarkets. To learn more, visit www.ppg.com.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

CATEGORY Corporate

View source version on businesswire.com: https://www.businesswire.com/news/home/20241017301109/en/

Media Contact:

Mark Silvey

Corporate Communications

+1 412 434 3046

silvey@ppg.com

Investor Contact:

Alex Lopez

Investor Relations

+1 412 434 3466

alejandrolopez@ppg.com

investor.ppg.com

Source: PPG

FAQ

What is PPG's latest quarterly dividend amount?

PPG's latest quarterly dividend is 68 cents per share.

When will PPG (NYSE:PPG) pay its next dividend?

PPG will pay its next dividend on December 12 to shareholders of record as of November 12.

How many consecutive years has PPG increased its annual dividend?

PPG has increased its annual dividend for 53 consecutive years.

What were PPG's net sales in 2023?

PPG reported net sales of $18.2 billion in 2023.

How long has PPG been paying uninterrupted annual dividends?

PPG has been paying uninterrupted annual dividends since 1899.