Tecnoglass Increases Quarterly Cash Dividend by 136% to $0.065 Per Share
December 08 2021 - 7:00AM
Tecnoglass, Inc. (NASDAQ:
TGLS)
("Tecnoglass" or the
"Company"), a leading manufacturer of architectural
glass, windows, and associated aluminum products for the global
residential and commercial construction industries, today announced
that its Board of Directors has declared a 136% increase in the
quarterly cash dividend on its common stock, to $0.065 per share
from $0.0275 per share. At the new rate, the dividend on an
annualized basis will be $0.26 per share compared to the previous
rate of $0.11 per share. The Company’s next quarterly cash dividend
of $0.065 per share will be payable on January 31, 2022 to
shareholders of record at the close of business on December 31,
2021.
Santiago Giraldo, Chief Financial Officer of
Tecnoglass, commented, “The Board’s confidence in Tecnoglass’
growth strategy and significant free cash flow generation supports
this substantial increase in our quarterly dividend. Our current
growth capex phase is largely completed and our record backlog
provides us with ample visibility into the future while strong
market conditions have continued into the end of the year. We
remain committed to a balanced approach to capital allocation,
which includes investments in our operations to drive future growth
and returning cash to shareholders.”
About
Tecnoglass
Tecnoglass Inc. is a leading producer of
architectural glass, windows, and associated aluminum products
serving the multi-family, single-family and commercial end markets.
Tecnoglass is the second largest glass fabricator serving the U.S.
and the #1 architectural glass transformation company in Latin
America. Located in Barranquilla, Colombia, the Company’s 2.7
million square foot, vertically-integrated and state-of-the-art
manufacturing complex provides efficient access to over 1,000
global customers, with the U.S. accounting for more than 90% of
revenues. Tecnoglass' tailored, high-end products are found on some
of the world's most distinctive properties, including One Thousand
Museum (Miami), Paramount (Miami), Salesforce Tower (San
Francisco), Via 57 West (NY), Hub50House (Boston), Aeropuerto
Internacional El Dorado (Bogotá), One Plaza (Medellín), Pabellon de
Cristal (Barranquilla). For more information, please visit
www.tecnoglass.com or view our corporate video at
https://vimeo.com/134429998.
Forward Looking
Statements
This press release includes certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding future financial performance, future growth and future
acquisitions. These statements are based on Tecnoglass’ current
expectations or beliefs and are subject to uncertainty and changes
in circumstances. Actual results may vary materially from those
expressed or implied by the statements herein due to changes in
economic, business, competitive and/or regulatory factors, and
other risks and uncertainties affecting the operation of
Tecnoglass’ business. These risks, uncertainties and contingencies
are indicated from time to time in Tecnoglass’ filings with the
Securities and Exchange Commission. The information set forth
herein should be read in light of such risks. Further, investors
should keep in mind that Tecnoglass’ financial results in any
particular period may not be indicative of future results.
Tecnoglass is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements,
whether as a result of new information, future events and changes
in assumptions or otherwise, except as required by law.
Investor Relations:Santiago
GiraldoCFO305-503-9062investorrelations@tecnoglass.com
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