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Corning to lift dividends by 10%, distribute USD 8-10 bln to shareholders in 2020-2023

2019-06-14 15:42:00| Telecompaper Headlines

(Telecompaper) Corning has unveiled its Strategy and Capital Allocation Framework for 2020-2023, with new targets for the future. The latest framework follows the one from 2016-2019, which Corning said will be met. CEO Wendell Weeks explained that, by the end of the year, Corning have returned over USD 12.5 billion to shareholders, while investing USD 11 billion towards extending its leadership and delivering growth. For the years to 2023, the company intends to lift dividends per share by at least 10 percent per year and to buy back shares; it will distribute USD 8-10 billion to shareholders and put about 10-12 billion into RD&E (research and development and engineering), capital and mergers, plus acquisitions. The focus will still go towards organic growth.

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