Corning Announces Increased Dividend and $1.5 Billion Stock Buyback

Corning Announces Increased Dividend and $1.5 Billion Stock Buyback CORNING, N.Y., October 05, 2011 – Corning Incorporated’s NYSE:GLW Board of Directors today declared a 50% increase in the company’s quarterly common stock dividend. Corning’s quarterly dividend will rise to $0.075 per share of common stock held, versus $0.05 per share previously. The fourth-quarter dividend will be payable on Dec. 16, 2011 to holders of record Nov. 16, 2011. The board also authorized a stock repurchase program for purchasing up to $1.5 billion of the company’s common stock from time to time through open market or private transactions. The stock repurchase authorization expires at the end of 2013. “We are taking action consistent with the long-term outlook and strength of our businesses,” Wendell P. Weeks, chairman, chief executive officer and president, said. “The company has turned into a consistent cash generator and we are confident in our ability to sustain a higher dividend payout to our shareholders. With the announcement today, our dividend yield will be approximately 2.5% based on our current share price.” “In our opinion, the company’s current stock price represents

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