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Owens Corning (OC) said late Thursday its board of directors has approved a quarterly dividend increase and an expanded share repurchase authorization. The board declared a dividend of 26 cents a share, an 8% increase. The dividend is payable on Jan. 22 to shareholders of record as of Jan. 8. The board also approved a share buyback authorization for up to 10 million shares of the company's common stock. This is in addition to a previously announced share buyback program in which about 2.3 million shares remained available for repurchase as of the end of September, the company said. Shares of Owens Corning rose 0.7% in the extended session Thursday after ending the regular trading day 2% higher.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

December 03, 2020 16:41 ET (21:41 GMT)

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