Armstrong World Industries hikes dividend by 10%

On October 20, 2022, Armstrong World Industries, Inc. (AWI) declared a new quarterly dividend of 25.4 cents per share, up 10% from the previous dividend. This comes after a 10 percent hike in 2021 and marks 4 straight years of increased dividends by AWI.

The dividend will be paid on Nov. 17, 2022, to shareholders on record as of the close of business on Nov. 3, 2022.

“This marks the fourth consecutive year we have announced an increase in our dividend and reflects the Board of Directors' continued confidence in our growth strategy and our ability to consistently generate steady cash flow and earnings,” said Vic Grizzle, President and CEO of Armstrong World Industries. “Our healthy balance sheet supports a balanced pursuit of all of our capital allocation priorities and returning cash directly to shareholders remains a core priority.”

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.  The company manufactures and sells its ceiling systems (primarily mineral fiber, fiberglass wool and metal) throughout the Americas. Its operating segments are: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Armstrong World Industries, Inc. is a Pennsylvania corporation incorporated in 1891. The company has paid a regular quarterly dividend every year since 2018.