Volume 36, Issue 3, March 2001

FinancialFlash

Saint-Gobain’s Profit Up 16 Percent; Company Looks Forward to New Year

The board of directors of the Paris-based Saint-Gobain Group met at the end of September to review its final consolidated financial statement for the six months, which ended on June 30, 2000.
The group reported net sales of $13,782 EURO, an operating income of $1,401 EURO and a dividend income of $22 EURO. However, it incurred charges of $272 EURO in interest and other financial charges.

PPG Increases Dividend
Pittsburgh-based PPG Industries Inc.’s board of directors recently raised the quarterly dividend on the company’s common stock to 42 cents, from 40 cents a share. The dividend was to be paid to shareholders on record since February 20 on March 12.
With this increase, the company says 2001 is the 31st consecutive year for increased shareholder payments by PPG, which has paid dividends without interruption since 1899, according to the company.
“Despite current economic weakness affecting a number of our businesses, PPG’s cash flow remains strong, and we have repurchased more than six million shares during the past year,” said Raymond W. LeBoeuf, board chairman and chief executive. “This dividend reflects our policy of increasing shareholder rewards.”