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Corning announces $0.28 quarterly dividend

Corning (NYSE: GLW) said on Wednesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.28 per share of common stock.

The dividend was kept unchanged from the previous quarterly dividend payment.

The dividend will be paid on September 27th to shareholders of record as of the close of business on August 30th 2024, the company said.

Stock Performance

The shares of Corning Incorporated (GLW) closed 3.75% ($1.49) lower at $38.28 in New York on Wednesday, as they extended the losses from the previous two market sessions.

The company’s total market cap now stands at $32.791 billion.

The shares of Corning Incorporated (GLW) went down 4.66% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have risen 25.71% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 6 out of 11 surveyed investment analysts had rated Corning Incorporated’s stock as “Hold”, while 5 – as “Buy”. The median price target on the stock stands at $39.10, which translates into a 2.14% upside compared to the closing price on Wednesday.

The high point of the analyst forecast range stands at $45.00.

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