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The dividend is up slightly from the $0.125 USD-per-share dividend the Barranquilla company paid in the first quarter of 2017.

Fitch says the rating reflects the firm's good market position in windows, low cost base, and long-term expected growth rate.

"We want Barranquilla to be known in the future as the capital of windows in the world," said Christian Daes.

Barranquilla-based window and glassmaker Tecnoglass, Inc. (NASDAQ: TGLS) will issue its third quarter dividend of $0.14 USD per share on October 27. The payout, an increase from the $0.125 per share it had paid out in previous quarters, will be made to all shareholders of record...

"This has been a very nice success story of a family-based company that has grown into a large corporate," says Santiago Giraldo, the new CFO of Tecnoglass.

Santiago Giraldo will replace Joaquin Fernandez, who will move to a new financial role related to the company's operating subsidiaries.

Though record-high revenue didn't lead to higher profits, Tecnoglass believes investment in “high-return projects" will yield good results throughout 2017.

The quarterly dividend of $0.125 per share will be payable on April 28, said Tecnoglass earlier this month.

Tecnoglass says the $35 million USD acquisition will diversify its distribution network and strengthen its position in the United States.

Tecnoglass plans to repay around $185 million in obligations and fund working capital needs with the funds.