LANCASTER, PA — Armstrong World Industries, Inc. (NYSE: AWI) has announced a 10% increase in its quarterly cash dividend, raising it to $0.308 per share of common stock. This enhanced dividend will be disbursed on November 21, 2024, to shareholders recorded by the close of business on November 7, 2024.
This latest increase marks the sixth consecutive annual boost since the company initiated its dividend program in 2018. According to Chris Calzaretta, Senior Vice President and CFO of Armstrong World Industries, this decision underscores the company’s strong ability to generate free cash flow and the Board of Directors’ confidence in its long-term growth strategy. “This announcement reflects our ability to generate free cash flow as well as the Board of Director’s continued confidence in our long-term growth strategy,” Calzaretta stated.
The company boasts a robust balance sheet and a history of consistent free cash flow growth, reinforcing its commitment to returning cash to shareholders as a key component of its capital allocation strategy. The decision on future dividends and capital allocations will hinge on the company’s financial performance, operational results, and cash flow, as determined by the Board of Directors.
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