PITTSBURGH--(BUSINESS WIRE)-- The Board of Directors of PPG (NYSE:PPG) today approved a 5-cents-per-share increase in the company’s dividend, declaring a regular quarterly dividend of 59 cents per share. The increase is payable Sept. 10 to shareholders of record Aug. 10.

This payment, coupled with the payment of a similar quarterly dividend in December, will mark 50 consecutive years of annual increases in the company’s dividend. The December dividend remains subject to approval from PPG’s Board of Directors in October.

PPG’s prior quarterly dividend was 54 cents per share.

“The 50-year milestone of annual dividend increases has been achieved by a very limited group of companies, and is a true testament to our company’s legacy of consistently rewarding our shareholders,” said Michael H. McGarry, PPG chairman and chief executive officer. “The increase is also a reflection of the strong confidence that PPG’s Board and management team have in our ability to continue to generate and grow our operating cash flow, which is now enhanced by the five recent acquisitions that we completed.”

This marks the company’s 492nd consecutive dividend payment. Through ongoing dedication and engagement of its workforce, the company has paid uninterrupted annual dividends since 1899.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.

CATEGORY Financial