Corning's board approves $5 billion stock buyback
Corning Inc. GLW, -1.01% said Wednesday its board has approved a stock buyback program of up to $5 billion. The company, which makes glass products for a range of industries, said the board has also declared a quarterly dividend of 20 cents a share.
The dividend will be payable Sept. 30 to shareholders of record s of Aug. 30. The company said the shareholder rewards are part of a Strategy and Growth Framework announced at an investor meeting last month. Shares were down 1.1%, but have gained 9.1% in 2019, while the S&P 500 SPX, -0.22% has gained 19.8%.
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