Masco Updates Earnings Guidance; To Increase Dividend

(RTTNews) - Masco Corp. (MAS) announced, for 2019, on an adjusted basis, the company now expects earnings per share to be in the range of $2.62 - $2.72 per share, compared to a previous range of $2.60 - $2.80. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.67. Analysts' estimates typically exclude special items.

For the second-quarter, adjusted earnings per share increased 16 percent to $0.88 per share. On average, 16 analysts expected the company to report profit per share of $0.81.

Second-quarter sales decreased 1 percent to $2.3 billion; in local currency, sales matched prior year. Analysts expected revenue of $2.34 billion, for the quarter.

The company's Board announced intent to increase annual dividend by $0.06 per share to $0.54 per share, beginning in the fourth quarter.