Five things to watch in markets in the week ahead
TOLEDO, Ohio - Owens Corning (NYSE:OC), a global producer of insulation, roofing, and fiberglass composites, announced a 15% increase in its quarterly cash dividend. The new dividend of $0.69 per common share is scheduled for payment on January 17, 2025, to shareholders on record as of January 6, 2025. According to InvestingPro data, the company has maintained dividend payments for 11 consecutive years, with increases in the last 6 years.
This decision reflects the company's financial performance and commitment to delivering shareholder value, supported by strong financials including $10.44 billion in revenue and $2.41 billion in EBITDA. Future dividend decisions, as stated by the company, will depend on various factors including earnings, financial health, cash needs, and future prospects. InvestingPro analysis shows the company maintains a "Great" Financial Health score, with particularly strong profitability metrics.
Owens Corning (NYSE:GLW), established in 1938, has a diverse portfolio that spans roofing, insulation, and composite solutions aimed at sustainable building practices. With a workforce exceeding 25,000 across 31 countries, the company emphasizes its role in providing energy-efficient products that contribute to global sustainability efforts.
In the previous year, Owens Corning reported sales of $9.7 billion, underscoring its significant market presence. The company's strategy focuses on leveraging its material science expertise and manufacturing capabilities to meet customer needs and drive growth.
The information for this report is based on a press release statement from Owens Corning.
In other recent news, Owens Corning, the Ohio-based building materials company, has reported its third quarter financial results for 2024. The earnings call, led by CEO Brian Chambers and CFO Todd Fister, provided insights into the company's financial health and future outlook. The company's strategic plans and expectations for future performance were discussed, along with a review of market conditions and operational adjustments in response to economic trends.
In addition to the earnings announcement, Owens Corning also revealed changes to its Board of Directors. The company announced the expansion of its board and the upcoming departure of a long-serving board member, W. Howard Morris, who has decided not to stand for re-election at the 2025 Annual Meeting of Stockholders.
InvestingPro's analysis indicates that Owens Corning maintains a "GREAT" financial health score, supported by strong liquidity and consistent dividend payments over the past 11 years. The firm's data also reveals impressive year-to-date returns and a solid current ratio, indicating strong operational performance. These are some of the recent developments concerning Owens Corning.
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