LONDON, UK / ACCESSWIRE / July 13, 2018 / Active-Investors has a free review on Owens Corning (NYSE: OC) following the Company's announcement that it will begin trading ex-dividend on July 16, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on July 13, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on OC:
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On June 21, 2018, Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.21 per common share. The dividend will be payable on August 02, 2018, to shareholders of record as of July 17, 2018.
Owens Corning's indicated dividend represents a yield of 1.31%, which is substantially higher than the average dividend yield of 1.14% for the Industrial Goods sector. The Company has raised its dividend for 3 years in a row.
Dividend Insights
Owens Corning has a dividend payout ratio of 15.2%, which denotes that the Company spends approximately $0.15 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Owens Corning is forecasted to report earnings of 6.56 per share for the next year, which is more than six times higher than the Company's annualized dividend payout of $0.84 per share.
As of March 31, 2018, Owens Corning's cash and cash equivalents totaled $140 million compared to $246 million as on December 31, 2017. For the three months ended March 31, 2018, the Company's net cash flow used in operating activities totaled $90 million. The Company's financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Owens Corning
On June 26, 2018, Owens Corning announced that it has entered into a Strategic Cooperation and Supply Agreement with Chongqing Polycomp International Corp. (CPIC) for joint investment in technology, and construction and operation by CPIC of a new facility dedicated to the manufacture of high-modulus glass fiber products in China.
Owens Corning stated that the new facility will be located in Chongqing, China. Expected to be operational by mid-2019, the facility will include a glass furnace with annual production capacity of 110,000 metric tons the agreement is focused within China, which represents the world's largest market for wind energy and is particularly well-suited for this large-scale capacity investment.
About Owens Corning
Owens Corning develops, manufactures, and markets insulation, roofing, and fiberglass composites. The Company's market-leading businesses use their deep expertise in materials, manufacturing, and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings.
Based in Toledo, Ohio, Owens Corning posted 2017 sales of $6.4 billion and employs 19,000 people in 37 countries. It has been a Fortune 500® Company for 64 consecutive years.
Stock Performance Snapshot
July 12, 2018 - At Thursday's closing bell, Owens Corning's stock slightly declined 0.77%, ending the trading session at $62.88.
Volume traded for the day: 1.58 million shares.
After yesterday's close, Owens Corning's market cap was at $6.88 billion.
Price to Earnings (P/E) ratio was at 19.54.
The stock has a dividend yield of 1.34%.
The stock is part of the Industrial Goods sector, categorized under the General Building Materials industry. This sector was up 1.1% at the end of the session.
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