Armstrong World Industries, Inc. (AWI) will increase its quarterly dividend by 14.3 percent to 20 cents per share. Last year the ceiling solutions company started paying a quarterly dividend of $0.175 per share.

The increased dividend is payable on November 21, 2019, to shareholders of record as of the close of business on November 7, 2019. A new annual rate of 80 cents per share yields 0.8% at a stock price of $102.48.

"The decision to increase our regular quarterly dividend reflects continued confidence in our operating performance, free cash flow generation and long-term financial outlook," said Vic Grizzle, President and CEO of Armstrong. "With our strong balance sheet and cash flow performance, we remain committed to a balanced capital allocation strategy to invest for growth and return cash to shareholders."

Armstrong World Industries, Inc. (AWI) is a global leader in the design, innovation and manufacture of commercial and residential ceiling, wall and suspension system solutions.  The company manufactures and sells its ceiling systems (primarily mineral fiber, fiberglass wool and metal) throughout the Americas. Its operating segments are: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Armstrong World Industries, Inc. is a Pennsylvania corporation incorporated in 1891. The company has paid a regular quarterly dividend every year since 2018.