PITTSBURGH - PPG Industries Inc. (NYSE:PPG), a global supplier of paints, coatings, and specialty materials, has announced a regular quarterly dividend of 65 cents per share. The dividend is scheduled to be paid on June 12 to shareholders who are on record as of May 10.
This latest dividend declaration continues PPG's long-standing tradition of rewarding its shareholders. The company has not only paid uninterrupted annual dividends since 1899 but has also increased its annual dividend for 52 consecutive years. This consistency underscores PPG's financial stability and commitment to its shareholders, marking the company's 503rd consecutive dividend payment.
PPG has a history that spans over 140 years, with a focus on innovation and customer service in the development and delivery of its products. The company has a presence in more than 70 countries and reported net sales of $18.2 billion in 2023. PPG serves a diverse range of markets, including construction, consumer products, industrial and transportation markets, and aftermarkets.
The dividend announcement is a reflection of the company's ongoing dedication and engagement of its workforce, which continues to drive PPG's financial performance and shareholder value.
This financial news is based on a press release statement from PPG Industries.
InvestingPro Insights
PPG Industries Inc. (NYSE:PPG) continues to demonstrate financial resilience and investor confidence, as evidenced by its latest dividend declaration. With a market capitalization of $31.75 billion and a history of consistent dividend payments, PPG remains a noteworthy stock for dividend investors. The company's commitment to shareholder returns is further highlighted by an impressive track record of increasing its annual dividend for now 53 consecutive years, a testament to its stable financial footing.
An InvestingPro Tip indicates that PPG stock generally trades with low price volatility, which could appeal to investors seeking a more stable equity in their portfolio. Additionally, PPG's Price / Book ratio for the last twelve months as of Q4 2023 stands at 4.06, suggesting the stock is trading at a high valuation compared to the company's book value.
InvestingPro Data shows that PPG's revenue growth for the last twelve months as of Q4 2023 was 3.37%, with a gross profit margin of 41.36%. These figures underscore the company's ability to maintain profitability and operational efficiency. Moreover, analysts predict that PPG will continue to be profitable this year, which is supported by a solid earnings per share (EPS) of $5.38 for continuing operations over the same period.
For investors interested in further insights and metrics, InvestingPro offers additional tips on PPG's financial health and future outlook, including detailed analyses on dividend sustainability and growth prospects. To explore these valuable insights, visit https://www.investing.com/pro/PPG and take advantage of the special offer using coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 5 more InvestingPro Tips available on PPG, providing a broader perspective on the company's financial position.
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