Corning Announces Increase in Quarterly Dividend

CORNING, N.Y. , Feb. 03, 2021 (GLOBE NEWSWIRE) -- Corning Incorporated’s (NYSE: GLW) Board of Directors declared on Wednesday a quarterly dividend of $0.24 per common share, a 9% increase versus the company’s previous quarterly common stock dividend of $0.22. The 2021 first-quarter dividend will be payable on March 30, 2021, to shareholders of record on Feb. 26, 2021.

Tony Tripeny, executive vice president and chief financial officer, noted, “Our fundamental approach to capital allocation remains the same. We continue to focus our portfolio and utilize our financial strength. We generate strong operating cash flow, and we expect that to continue going forward. We will continue to use our cash to grow, extend our leadership, and reward shareholders. This dividend reflects Corning’s confidence in our future.”

Caution Concerning Forward-Looking Statements
The statements in this release that are not historical facts or information and contain words such as “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” and “target” and similar expressions are forward-looking statements.  These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain.  These forward-looking statements relate to, among other things, the Company’s future operating performance, the Company's share of new and existing markets, the Company's revenue and earnings growth rates, the Company’s ability to innovate and commercialize new products, and the Company’s implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the Company’s manufacturing capacity. These statements are subject to change and uncertainty which are, in many instances, beyond our control. There can be no assurance that future developments will be in accordance with management’s expectations. Actual results could differ materially from those expected by us, depending on the outcome of various factors. We do not undertake to update forward-looking statements.