PPG Industries (PPG) will raise its quarterly dividend by 6.7 percent to $0.48 per share in 2018. This marks the 47th consecutive year of dividend increases by Dividend Aristocrat PPG.
The next dividend is payable September 12, 2018, to shareholders of record August 10, 2018. The new dividend yield for PPG is 1.8% based on a stock price of $105.
“This 7-percent increase in our per-share quarterly dividend is a reflection of the strong cash generation of our business portfolio and reaffirms our commitment to reward our shareholders with sustainable dividend increases,” said Vince Morales, PPG senior vice president and chief financial officer.
PPG Industries, Inc., manufactures and distributes paints, coatings and specialty materials. PPG’s business is comprised of two reportable business segments: Performance Coatings and Industrial Coatings. PPG's products are used by customers in a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment, automotive refinish; as well as for other industrial and consumer products. PPG also serves commercial and residential new build and maintenance customers by supplying coatings to painting and maintenance contractors and directly to consumers for decoration and maintenance. The company's brands include PPG, SEM, Glidden, Comex, Dulux, Sikkens, Mulco, Liquid Nails, Renner, Taubmans, Bristol, Dekoral, Trilak and Bondex. PPG Industries was incorporated in Pennsylvania in 1883 and has paid uninterrupted annual dividends since 1899.