Tecnoglass Increases Quarterly Dividend by 20% to $0.09 Per Share
Tecnoglass (NYSE: TGLS) announced a 20% increase in its quarterly dividend, raising it from $0.075 to $0.09 per share. The new annualized dividend will amount to $0.36 per share, compared to the previous $0.30.
The quarterly dividend will be payable on April 28, 2023, to shareholders on record by the close of business on March 31, 2023. This decision reflects the company's strong earnings capability and commitment to returning value to shareholders, as stated by Santiago Giraldo, CFO.
- 20% increase in quarterly dividend from $0.075 to $0.09 per share.
- Annualized dividend rises to $0.36 from $0.30 per share.
- Strong earnings capability and positive cash flow projections cited by CFO.
- None.
Barranquilla, Colombia, March 13, 2023 (GLOBE NEWSWIRE) -- Tecnoglass, Inc. (NYSE: TGLS) ("Tecnoglass" or the "Company"), a leading manufacturer of architectural glass, windows, and associated aluminum products for the global residential and commercial construction industries, today announced that its Board of Directors has approved a
Santiago Giraldo, Chief Financial Officer of Tecnoglass, commented, “This increase in our quarterly dividend reflects the earnings power of our company and confidence in our ability to consistently generate exceptional free cash flow based on the projected growth of our business. We remain focused on executing on our differentiated strategy and returning value to our shareholders.”
About Tecnoglass
Tecnoglass Inc. is a leading producer of architectural glass, windows, and associated aluminum products serving the multi-family, single-family and commercial end markets. Tecnoglass is the second largest glass fabricator serving the U.S. and the #1 architectural glass transformation company in Latin America. Located in Barranquilla, Colombia, the Company’s 2.7 million square foot, vertically-integrated and state-of-the-art manufacturing complex provides efficient access to over 1,000 global customers, with the U.S. accounting for more than
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Tecnoglass’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Tecnoglass’ business. These risks, uncertainties and contingencies are indicated from time to time in Tecnoglass’ filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that Tecnoglass’ financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events and changes in assumptions or otherwise, except as required by law.
Investor Relations:
Santiago Giraldo
CFO
305-503-9062
investorrelations@tecnoglass.com
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