Georgia Gulf Corp. has reinstated its quarterly dividend at 8 cents after putting it on hiatus in 2008.
The Atlanta based chemical company on Monday declared that it will pay the same quarterly dividend it did four years ago. The dividend will be paid July 10 to shareholders of record as of June 28.
CEO Paul Carrico said that cutting its debt and costs over the past three years, while increasing its operating income and cash flow, gave the company the cash to resume paying dividends.
Georgia Gulf makes two chemical lines and vinyl-based building and home improvement products that it markets under the Royal Building Products and Exterior Portfolio brands.
Its shares increased $1.45, more than 5 percent, to close trading at $29.83 as the markets rose overall.
