LANCASTER, PA — Armstrong World Industries, Inc. (NYSE: AWI), a leading designer and manufacturer of ceiling and wall solutions, has declared a cash dividend of $0.28 per share of common stock. The announcement was made by the company’s Board of Directors.
The cash dividend, which translates into a significant payout for shareholders, will be paid on March 14, 2024. Stockholders who are on record as of the close of business on February 29, 2024, will be eligible to receive this dividend.
This move by Armstrong World Industries aligns with the company’s strategy to enhance shareholder value while maintaining its financial strength. However, the decision to declare and pay future dividends is subject to discretion by the company’s Board of Directors, with various factors taken into account, including the company’s financial position, operating results, and cash flow.
With $1.2 billion in revenue in 2022, Armstrong World Industries is a major player in the Americas’ ceiling and wall solutions industry. The company boasts a workforce of approximately 3,100 employees and operates out of a total of 23 facilities, including 16 of its own manufacturing sites and seven facilities dedicated to its WAVE joint venture.
This robust operational footprint, coupled with its innovative design and manufacturing capabilities, positions Armstrong World Industries favorably in the competitive marketplace. The recent declaration of a cash dividend underscores the company’s confidence in its financial stability and growth prospects.
While the company’s dividend policy is a clear signal of its commitment to returning capital to shareholders, investors should note that future dividends and capital allocations remain subject to the Board of Directors’ discretion. As such, they will depend on various factors, including the company’s financial health, operational performance, and cash flow generation.
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