By Maria Armental
Owens Corning is raising its quarterly dividend to 35 cents a share, citing the company’s financial performance thus far and cash flow generation.
The new dividend will be payable on Jan. 21 to shareholders of record as of Jan. 7.
For the first nine months of the year, the company has reported a profit of $768 million on $7.37 billion in net sales, compared with a year-earlier loss of $615 million and $5.13 billion in sales.
Company officials said Owens Corning /zigman2/quotes/202113551/composite OC +2.50% generated $1.2 billion of operating cash flow and $925 million of free cash flow for the first nine months of the year.
Write to Maria Armental at firstname.lastname@example.org