Tecnoglass, Inc. (NYSE: TGLS) has announced a significant 36% increase in its quarterly dividend on its ordinary shares. The dividend has been raised to $0.15 per share from $0.11 per share. On an annualized basis, this represents an increase to $0.60 per share compared to the previous rate of $0.44 per share. Shareholders of record as of the close of business on December 31, 2024, will receive the increased dividend payment of $0.15 on January 31, 2025.
Santiago Giraldo, the Chief Financial Officer of Tecnoglass, commented on the decision, stating that it reflects the board’s confidence in the company's strong cash flow generation capabilities and the trajectory of its business. This move demonstrates the company's focus on prudent balance sheet management and delivering superior shareholder returns.
Tecnoglass, Inc. is a leading producer of high-end aluminum and vinyl windows and architectural glass, serving the multi-family, single-family, and commercial end markets. The company's 5.6 million square foot, vertically integrated, and state-of-the-art manufacturing complex provides efficient access to nearly 1,000 customers in North, Central, and South America, with the United States accounting for 95% of total revenues.
The company's tailored, high-end products are utilized in some of the world’s most distinctive properties, including prominent locations in Miami, San Francisco, New York, Boston, and Colombia.
This significant increase in the dividend reflects Tecnoglass' confidence in its financial performance and its commitment to delivering value to its shareholders. Following these announcements, the company's shares moved 4.6%, and are now trading at a price of $85.42. For more information, read the company's full 8-K submission here.
