Georgia Gulf Corporation : Georgia Gulf Board of Directors Reinstates Quarterly Dividend
05/21/2012| 05:05pm US/Eastern
Recommend:
The Board of Directors of Georgia Gulf Corporation (NYSE: GGC) today
declared a quarterly dividend of 8 cents per share, the company's first
since 2008.
"The reinstatement of a regular dividend of 32 cents per share on an
annualized basis is a significant milestone for Georgia Gulf. The
ability to again reward our shareholders with a cash dividend
demonstrates the success management and employees have had in rebuilding
a strong financial foundation for the company and is an expression of
our confidence in the future of the company," said Mark Noetzel,
chairman of the board.
"We are proud of the work we have done at Georgia Gulf to significantly
decrease our debt and cash interest costs during the past three years,
while increasing our operating income and generating substantial free
cash flow. Our financial position allows us to restore the cash dividend
per share to the same level paid before it was suspended in 2008," said
Paul Carrico, president and chief executive officer.
"Our integrated chemicals and building products businesses provide a
solid platform for North American sales, and our strategic shift during
the past few years to expand our global capabilities has diversified our
opportunities in the market," Carrico said. "We remain focused on
executing our strategy and are confident that we have the financial
flexibility to pursue these opportunities while continuing to create
significant value for our stockholders."
The dividend is payable July 10, 2012, to shareholders of record on June
28, 2012.
About Georgia Gulf
Georgia Gulf Corporation is a leading, integrated North American
manufacturer of two chemical lines, chlorovinyls and aromatics, and
manufactures vinyl-based building and home improvement products. The
company's vinyl-based building and home improvement products, marketed
under the Royal Building Products and Exterior Portfolio brands, include
window and door profiles, mouldings, siding, pipe and pipe fittings, and
deck products. Georgia Gulf, headquartered in Atlanta, Georgia, has
manufacturing facilities located throughout North America to provide
industry-leading service to customers. For more information, visit www.ggc.com.
Safe Harbor
This news release contains forward-looking statements subject to the
"safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995 and other federal securities laws. These forward looking
statements relate to, among other things, our expectations of future
results. Forward-looking statements are based on management's
assumptions regarding, among other things, general economic and
industry-specific business conditions, as well as the execution of our
business strategy, and actual results may be materially different. Risks
and uncertainties inherent in these assumptions include, but are not
limited to, uncertainties regarding future prices and demand for our
products, industry capacity levels for our products, raw materials and
energy costs and availability, feedstock availability and prices,
changes in governmental and environmental regulations, the adoption of
new laws or regulations that may make it more difficult or expensive to
operate our businesses or manufacture our products, our ability to
generate sufficient cash flows from our business, future economic
conditions in the specific industries to which our products are sold,
global economic conditions, our ability to successfully integrate and
execute our business plans for acquisitions and other factors discussed
in the Securities and Exchange Commission filings of Georgia Gulf
Corporation from time to time, including our Annual Report on Form 10-K
for the year ended December 31, 2011, and subsequent quarterly reports
on Form 10-Q.
Georgia Gulf Corporation
Investor Relations
Martin
Jarosick, 770-395-4524
or
Media
Alan
Chapple, 770-395-4538
chapplea@ggc.com
© Business Wire 2012
Recommend :
