Tecnoglass to Pay Out Third Quarter Dividend of $0.09 on October 31

Window and glass manufacturer Tecnoglass (NYSE: TGLS) today announced that its third quarter dividend of $0.09 per share will be paid on October 31 to all shareholders of record as of September 29.

This will be the first dividend issued since the company, which was founded in Barranquilla, Colombia, recently relocated its headquarters to Miami in what it called a “strategic move” to further elevate its presence in what has long been its biggest market.

The new headquarters is physically located in one of Tecnoglass’ existing sites in Miami and will undergo a substantial renovation within the next 18 months through an expected land purchase, showroom buildout, and executive office addition.

Tecnoglass CEO José Manuel Daes noted that the August 17 relocation comes with a host of benefits beyond simply increasing its presence in the United States and adding efficiency.

“We believe the relocation of our global headquarters will also enhance our eligibility to be included in US-based indexes, allow us to expand our reach with global investors, strengthen our US capital markets relationships, and foster long-term partnerships that will fuel our innovation and multi-pronged growth strategy,” he said in a statement.

Tecnoglass will maintain its operations in Barranquilla. Its large facility in the Colombian port city will “continue to serve as a critical operational and administrative hub, supporting the Company’s extensive, cost-efficient manufacturing platform,” according to the company.

Photo: Tecnoglass manufactures windows, glass, and other homebuilding products from its plant in Barranquilla, Colombia. (Credit: Tecnoglass)