Owens Corning Boosts Dividend & Stock Repurchase Authorization

Owens Corning Inc OC Board of Directors has approved a quarterly dividend increase and new share repurchase authorization.
The Board has declared a quarterly cash dividend of $0.52 per share, an approximately 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 Board of Directors has also approved a share repurchase authorization for up to 10 million shares.
The approval is in addition to the previously announced share buyback program in which approximately 7.4 million shares remained available for purchase as of September 30, 2022.
During the first nine months of 2022, the company returned $639 million to shareholders through share repurchases and dividends.
Owens Corning held $758 million in cash and equivalents as of September 30, 2022.
Price Action: OC shares closed higher by 1.41% at $90.09 on Thursday.

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