Corning Announces Dividend Increase of 12.5% as it continues to execute the company’s new Strategy and Capital Allocation Framework

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Corning Announces Dividend Increase of 12.5%

Corning Announces Dividend Increase of 12.5%

News Releases
Corporate Communications
Corning Announces Dividend Increase of 12.5% as it continues to execute the company’s new Strategy and Capital Allocation Framework
Corning Announces Dividend Increase of 12.5% as it continues to execute the company’s new Strategy and Capital Allocation Framework
CORNING, N.Y. | Corning Incorporated | February 03, 2016

Corning Incorporated’s (NYSE: GLW) Board of Directors today declared a quarterly dividend of $0.135 per share, a 12.5% increase in the company’s quarterly common stock dividend. The 2016 first-quarter dividend is payable on March 31, 2016, to shareholders of record on Feb. 25, 2016. 

“When Corning introduced our new Strategy and Capital Allocation Framework last October, we said we planned to distribute more than $10 billion to shareholders by 2019. Today’s announcement is another step toward achieving this goal,” Wendell P. Weeks, chairman, chief executive officer and president, said. “Shareholders can expect to see us increase their dividend payments by at least 10% annually through 2019. We also plan to continue our aggressive share repurchase as part of the plan to sustain and increase shareholders’ value.”

Today’s action marks the fifth time since October of 2011 that the board of directors has increased the dividend. 

Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.

Digital Media Disclosure
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it intends to use its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.

About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people’s lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning’s businesses and markets are constantly evolving. Today, Corning’s products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.