Owens Corning Hikes Dividend By 50%; To Repurchase Up To 10 Mln Additional Shares

(RTTNews) - Owens Corning (OC) announced that its board has approved a quarterly dividend increase and new share repurchase authorization.

The company has declared a quarterly cash dividend of $0.52 per common share, an about 50% increase compared with the prior quarterly dividend. The dividend will be payable on January 19, 2023, to shareholders of record as of January 4, 2023.

In addition, the company noted that its board has approved a share repurchase authorization for up to 10 million shares of the company's common stock. This is in addition to the previously announced share buyback program in which about 7.4 million shares remained available for purchase as of September 30, 2022.