Tecnoglass Raises Dividend By 20% After Reporting Record Results
Barranquilla based Tecnoglass, Inc. (NYSE: TGLS) Colombia’s largest manufacturer of architectural glass, windows, and associated aluminum products serving the global residential and commercial end markets, today announced that its board of directors has approved a 20% increase in the quarterly dividend on its ordinary shares, to $0.09 per share from $0.075 per share.
At the new rate, the dividend on an annualized basis will be $0.36 per share compared to the previous rate of $0.30 per share. The company’s next quarterly dividend of $0.09 per share will be payable on April 28, 2023 to shareholders of record at the close of business on March 31, 2023.
Santiago Giraldo, Chief Financial Officer of Tecnoglass, commented, “This increase in our quarterly dividend reflects the earnings power of our company and confidence in our ability to consistently generate exceptional free cash flow based on the projected growth of our business. We remain focused on executing on our differentiated strategy and returning value to our shareholders.”