PPG announces 507th consecutive dividend payment

PITTSBURGH - PPG Industries (NYSE:PPG), a global supplier of paints, coatings, and specialty materials, has declared a regular quarterly dividend of 68 cents per share, representing a current yield of 2.76%. The dividend is payable on June 12 to shareholders who are on record as of May 12. According to InvestingPro data, PPG maintains a GOOD overall financial health score, with the company currently appearing undervalued based on Fair Value analysis.

This latest dividend marks a significant milestone for the company, representing its 507th consecutive dividend payment. PPG has a long-standing history of delivering shareholder returns, with uninterrupted annual dividends since 1899. This consistency underscores the company’s commitment to its shareholders and its ability to maintain a stable financial performance. InvestingPro analysis reveals that management has been aggressively buying back shares, demonstrating additional commitment to shareholder returns.

The announcement comes as PPG continues to showcase its resilience and dedication to its investors. The company has achieved an impressive track record of raising its annual dividend payment for 53 consecutive years, highlighting its financial strength and reliable growth.

PPG’s operations span more than 70 countries, and the company reported net sales of $15.8 billion in 2024. It serves a diverse range of markets, including construction, consumer products, industrial and transportation sectors, and aftermarkets.

The company’s ability to innovate and collaborate closely with customers to meet their needs has been a cornerstone of its success over its 140-year history. PPG’s commitment to protecting and beautifying the world is reflected not only in its products but also in its consistent financial returns to shareholders.

This dividend declaration is based on a press release statement from PPG Industries.

In other recent news, PPG Industries has secured €900 million in 3.250% notes due 2032, aiming to use the proceeds for general corporate purposes, including capital expenditures and debt repayment. This financial move is part of the company’s strategy to bolster its financial structure and growth initiatives. Meanwhile, PPG Industries has faced a series of analyst downgrades. BofA Securities downgraded the stock to Neutral, citing concerns over raw material costs and economic factors, while Seaport Global Securities also moved PPG to Neutral due to tariff policy concerns impacting demand for industrial coatings.

Additionally, JPMorgan analysts downgraded PPG Industries from Overweight to Neutral, lowering the price target to $115.00, influenced by a comparison with industry peer Axalta. RBC Capital Markets adjusted its price target for PPG Industries to $120.00, maintaining a Sector Perform rating, while noting challenges in the automotive and industrial sectors. The firm anticipates volume stabilization and cost savings by 2025. Despite these challenges, PPG Industries is expected to benefit from strong markets in Mexico and China, gaining market share and achieving cost efficiencies. These developments reflect the current market conditions and strategic responses from PPG Industries amid industry-specific challenges.

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