PPG Industries’ first-quarter dividend
On January 17, PPG Industries (PPG) announced the dividend for the first quarter of 2019. The board declared a dividend of $0.48 per share. The dividend rate didn’t change compared to the previous quarter. However, the dividend increased 6.7% compared to the previous year.
To be eligible for the dividend, investors should hold PPG Industries shares as of the close on February 22 in the company’s record. PPG Industries is expected to pay the dividend on March 12. At the end of the fourth quarter, PPG Industries had 239.8 million outstanding common shares. Assuming that no more common shares are repurchased, PPG Industries would be paying $115.10 million in the form of dividends.
Stock price updates
PPG Industries reported better-than-expected fourth-quarter earnings. As a result, the stock price increased 3.8% and closed at $105.43 for the week ending January 18. The gains resulted in a trend reversal in its 100-day moving average price. PPG Industries traded marginally above its 100-day moving average price of $105.36.
PPG Industries’ 14-day relative strength index is at 59, which indicates that the stock isn’t overbought or oversold.
Investors could hold PPG Industries indirectly by investing in the Guggenheim S&P 500 Equal Weight Materials ETF (RTM). RTM gained 1.8% during the week. RTM invests 4.1% of its portfolio in PPG Industries.