PPG Industries (NYSE:PPG) announces the following details for its fourth quarter and full-year 2015 earnings release and teleconference call, to be held on Thursday, January 21, 2016 at 2:00 pm ET.
On April 16, 2015, PPG’s Board of Directors approved a two-for-one split of the Company’s common stock payable on June 12, 2015. This means that for every share of the Company’s common stock owned on June 12, 2015, shareholders will receive one additional share. Shares of the Company’s common stock will begin trading on June 15, 2015 at half of the closing price on June 12, 2015. Thereafter, the price of the shares will be based on market conditions.
The goal of the split is to expand the Company’s shareholder base and increase liquidity in trading of the shares. The split will make the price of shares of the Company’s common stock more affordable and potentially more attractive to new investors.
“We have continued to deliver strong year-over-year growth in adjusted earnings per share, with results up 14 percent,” said Michael H. McGarry, PPG president and chief executive officer. “Our third-quarter performance was achieved despite the impact of unfavorable foreign currency translation, which was more than offset by the continued benefit of our acquisitions, including consistently strong performance of Comex, ongoing and aggressive cost management actions and continued cash deployment.”
See more at: http://investor.ppg.com/phoenix.zhtml?c=112929&p=irol-irhome#sthash.bFsQAryN.dpuf.