Corning Board Approves New $5 Billion Buyback Authorization
July 17 2019 - 12:18PM
Dow Jones News
By Michael Dabaie
Corning Inc. (GLW) on Wednesday said its board approved a new $5
billion share-repurchase authorization.
The company also declared a regular quarterly dividend of 20
cents per share.
Corning said these are initial milestones under its priorities
for 2020 to 2023. At the company's Investor Day last month, Corning
said it expects to deliver $8 billion to $10 billion in shareholder
distributions under its new framework, including an annual dividend
increase of at least 10% and share repurchases in the range of $5
billion to $7 billion.
Shares are down 1% to $32.91.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 17, 2019 12:03 ET (16:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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