Corning Inc. GLW, +0.29% said Wednesday that it will raise its quarterly dividend by 9.1%, starting next month. The glass and ceramics science company said the new dividend of 24 cents a share, up from 22 cents a share, will be payable March 30 to shareholders of record on Feb. 26. The stock slipped 0.6% in midday trading to $36.10. At current prices, the new annual dividend rate would imply a dividend yield of 2.66%, compared with the yield for the SPDR Technology Select Sector ETF XLK, -0.01% of 0.89% and the implied yield for the S&P 500 SPX, +0.30% of 1.49%, according to FactSet. “We generate strong operating cash flow, and we expect that to continue going forward,” said Chief Financial Officer Tony Tripeny. “This dividend reflects Corning’s confidence in our future.”
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