PPG Board of Directors Approves 10 Percent Shareholder Dividend Increase to 59 Cents Per Share; 2021 to Mark 50 Consecutive Years of Annual Dividend Increases

Rhea-AI Summary

PPG (NYSE:PPG) announced a 5-cent increase in its quarterly dividend, bringing it to 59 cents per share, payable on Sept. 10 to shareholders of record on Aug. 10. This increase highlights PPG's achievement of 50 consecutive years of annual dividend increases, underscoring the company’s commitment to rewarding shareholders. The upcoming December dividend, pending Board approval, will be the company’s 493rd consecutive dividend payment, reflecting strong confidence in PPG's ability to generate cash flow, bolstered by recent acquisitions.

Positive

• Dividend increased from 54 cents to 59 cents per share.
• Achievement of 50 consecutive years of annual dividend increases.
• Strong confidence from the Board and management in PPG’s cash flow generation.

Negative

• None.

The Board of Directors of PPG (NYSE:PPG) today 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.

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 135 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 $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.

CATEGORY Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20210715005720/en/

FAQ

What is the new dividend amount for PPG?

PPG's new quarterly dividend amount is 59 cents per share.

When is the dividend payment date for PPG?

The dividend payment date for PPG is September 10.

How long has PPG been increasing its dividend?

PPG has increased its dividend for 50 consecutive years.

What was PPG's previous quarterly dividend amount?

The previous quarterly dividend amount was 54 cents per share.

What does PPG's dividend increase reflect?

The dividend increase reflects PPG's strong confidence in its ability to generate and grow operating cash flow.