Armstrong World Industries Announces Increase in Quarterly Dividend
October 20 2021 - 4:15PM
Armstrong World Industries, Inc. (NYSE:AWI), a leader in the
design, innovation and manufacture of commercial and residential
ceiling, wall and suspension system solutions, today announced that
its Board of Directors has approved a 10% increase in the company’s
quarterly cash dividend to $0.231 per share of common stock.
The dividend will be payable on November 18, 2021, to shareholders
of record as of November 4, 2021.
“The announcement today marks the third consecutive, annual
dividend increase for AWI and is a continuing reflection of the
confidence of our Board of Directors in the strategic growth
opportunities of the company,” said Vic Grizzle, President and CEO
of Armstrong World Industries. “Given our strong balance sheet and
ability to consistently generate cash flow, returning cash to
shareholders remains an important part of our disciplined capital
allocation priorities.”
The declaration and payment of future dividends and capital
allocations will be at the discretion of the Board of Directors and
will be dependent upon, among other things, the company's financial
position, results of operations and cash flow.
Uncertainties Affecting Forward-Looking
Statements
Disclosures in this release, including without limitation, those
relating to future financial results, future dividends or capital
allocation, market conditions and guidance, the impacts of COVID-19
on our business, and in our other public documents and comments,
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Those statements
provide our future expectations or forecasts and can be identified
by our use of words such as “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” “outlook,” “target,”
“predict,” “may,” “will,” “would,” “could,” “should,” “seek,” and
other words or phrases of similar meaning in connection with any
discussion of future operating or financial performance.
Forward-looking statements, by their nature, address matters that
are uncertain and involve risks because they relate to events and
depend on circumstances that may or may not occur in the future. As
a result, our actual results may differ materially from our
expected results and from those expressed in our forward-looking
statements. A more detailed discussion of the risks and
uncertainties that could cause our actual results to differ
materially from those projected, anticipated or implied is included
in the “Risk Factors” and “Management’s Discussion and Analysis”
section of our report on Forms 10-K and 10-Q filed with
the U.S. Securities and Exchange Commission. Forward-looking
statements speak only as of the date they are made. We undertake no
obligation to update any forward-looking statements beyond what is
required under applicable securities law.
About Armstrong
Armstrong World Industries, Inc. (AWI) is a leader in the design
and manufacture of innovative commercial and residential ceiling,
wall and suspension system solutions in the Americas. With over
$937 million in revenue in 2020, AWI has about 2,800 employees and
a manufacturing network of 15 facilities, plus six facilities
dedicated to its WAVE joint venture. For more information,
visit www.armstrongceilings.com.
Contacts |
|
Investors: |
Theresa Womble, tlwomble@armstrongceilings.com or (717)
396-6354 |
Media: |
Jennifer
Johnson, jenniferjohnson@armstrongceilings.com or (866)
321-6677 |
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