12/3 Dividend Yield: 3%
Corning‘s (NYSE:GLW) history is as famous as its iconic glassworks factory and products. Founded in 1851 by Amory Houghton Sr., Corning was and is still in the forefront of glass technology. Its initial glassblowing technology has long since given way to countless innovations incorporated into products including light bulbs, TV tubes, cookware, optical fiber, and active-matrix liquid crystal displays. And don’t forget Gorilla Glass.
Corning was under the gun in the 1990s and 2000s, but it has come back to life as a world leader in specialty glass and ceramics, and its labs and R&D facilities are still world-class. With a market cap of just over $18 billion, its quarterly dividend of 9 cents per share provides a dividend yield of 2.94%. And the dividend has some room to run because GLW’s dividend payout is only 12.7%.
With a P/E of under 10x earnings and a price tag of under $15 per share, GLW could be a very nice longer-term dividend play for your distribution dollars. But be careful here, too, becuuse the shares haven’t performed well over the past year.