Corning Inc. (GLW) will raise its quarterly dividend by 10.0 percent to $0.22 per share in the first quarter of 2020. Last year the company hiked its dividend by 11.1 percent. Corning expects to increase its dividend by at least ten percent the next couple of years.

The next dividend is payable on March 31, 2020, to shareholders of record on February 28, 2020. The new annual dividend rate of 88 cents per share  yields 3.2% at a stock price of $27.68.

Corning's previously announced Strategy & Growth Framework for 2020 to 2023 outlines the company's priorities to capture significant organic growth and create additional value for shareholders. Under the Framework, the company intends to return $8 billion to $10 billion to shareholders, including annual dividend per common share increases of at least 10% through 2023 (source: company press release).

Corning Incorporated is a manufacturer of specialty glass and ceramics. Corning's products include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.