PPG Industries (PPG) will raise its quarterly dividend by 9.3 percent to 59 cents per share in 2021. This follows a dividend hike of 5.9 percent to $0.54 per share announced in 2020. This marks the 50th consecutive year of dividend increases by Dividend Aristocrat PPG.
The next dividend of 59 cents per share is payable September 10, 2021, to shareholders of record August 10, 2021. The new annual dividend rate of $2.36 per share yields 1.4% at a stock price of $170 for PPG Industries.
After this latest dividend increase PPG Industries will pay an estimated $559 million in dividends annually to its shareholders. The company last announced a double digit dividend hike in 2017, when the quarterly dividend was increased by 12.5 percent to 45 cents per share.
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.