Armstrong World Industries Declares Increased Dividend for Fourth Quarter
24 October 2019 - 7:20AM
Armstrong World Industries, Inc. (NYSE:AWI), a leader in the
design, innovation and manufacture of commercial and residential
ceiling, wall and suspension system solutions, today announced that
its Board of Directors has approved an increase in the company’s
regular quarterly cash dividend to a rate of $0.20 per share of
common stock ($0.80 per share on an annualized basis). This
represents an increase of 14% over the previous quarterly dividend
rate of $0.175 per share.
The company’s Board of Directors also declared the cash dividend
for the fourth quarter of 2019 to be payable on November 21, 2019,
to shareholders of record as of the close of business on November
7, 2019.
"The decision to increase our regular quarterly dividend
reflects continued confidence in our operating performance, free
cash flow generation and long-term financial outlook," said Vic
Grizzle, President and CEO of Armstrong. "With our strong balance
sheet and cash flow performance, we remain committed to a balanced
capital allocation strategy to invest for growth and return cash to
shareholders."
The declaration and payment of future dividends and capital
allocations will be at the discretion of the Board of Directors and
will be dependent upon, among other things, the company's financial
position, results of operations, cash flow and other factors.
Uncertainties Affecting Forward-Looking
StatementsDisclosures in this release, including without
limitation, those relating to future financial results, future
dividends or capital allocation, market conditions and guidance,
and in our other public documents and comments, contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Those statements provide
our future expectations or forecasts and can be identified by our
use of words such as “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe,” “outlook,” “target,” “predict,” “may,”
“will,” “would,” “could,” “should,” “seek,” and other words or
phrases of similar meaning in connection with any discussion of
future operating or financial performance. Forward-looking
statements, by their nature, address matters that are uncertain and
involve risks because they relate to events and depend on
circumstances that may or may not occur in the future. As a result,
our actual results may differ materially from our expected results
and from those expressed in our forward-looking statements. A more
detailed discussion of the risks and uncertainties that could cause
our actual results to differ materially from those projected,
anticipated or implied is included in the “Risk Factors” and
“Management’s Discussion and Analysis” section of our report on
Forms 10-K and 10-Q filed with the U.S. Securities and Exchange
Commission (“SEC”). Forward-looking statements speak only as of the
date they are made. We undertake no obligation to update any
forward-looking statements beyond what is required under applicable
securities law.
About Armstrong
Armstrong World Industries, Inc. (AWI) is a
global leader in the design, innovation and manufacture of
commercial and residential ceiling, wall and suspension system
solutions. For more information, visit
www.armstrongceilings.com.
Contacts
Investors: Thomas Waters, twaters@armstrongceilings.com or
(717) 396-6354Media: Jennifer Johnson,
jenniferjohnson@armstrongceilings.com or (866) 321-6677
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