PPG directors announce dividend
Debt repayment proceeding, company to resume share repurchasesPITTSBURGH, July 17, 2008 –
The board of directors of PPG Industries (NYSE: PPG) today declared a regular quarterly dividend of 52 cents a share, payable Sept. 12 to shareholders of record Aug. 11. The company has paid uninterrupted dividends since 1899 and has increased its annual dividend payout for 37 consecutive years.
“PPG has a long heritage of strong and consistent cash generation, as well as using this cash in a balanced manner for both business growth and rewarding shareholders,” said Charles E. Bunch, PPG chairman and chief executive officer. “Through the first half of 2008, our cash generation is already 60 percent higher than our solid 2007 results. With this strong cash generation, we are fully funding our continued business growth and have already repaid nearly $250 million in debt since the beginning of the year. Looking ahead, we remain focused on these same cash uses and also look to opportunistically repurchase PPG stock.”
PPG’s board of directors approved a 10 million-share repurchase authorization in the fourth quarter 2005. The authorization has slightly less than 4 million shares remaining.About PPG
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company has more than 150 manufacturing facilities and equity affiliates and operates in more than 60 countries. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com