Taylor, Mich., (September 12, 2008) - Masco Corporation (NYSE:
MAS) today announced that its Board of Directors has increased its
quarterly dividend to $.235 per common share payable on November 10,
2008, to shareholders of record on October 10, 2008. The increased
quarterly dividend reflects Masco's strong balance sheet, cash flow and
favorable long-term outlook. This marks the 50th consecutive year in
which dividends have been increased.
"Despite the current housing environment and slow-down in consumer
spending for home improvement products and their negative impact on the
Company's current earnings, we are confident that, over the long-term,
market fundamentals for our products and services will significantly
improve," said Timothy Wadhams, Masco Chief Executive Officer and
President. "We continue to believe that the combination of Masco's
scale, service, distribution, installation and brand differentiation
will result in our ability to generate significant long-term growth in
earnings from current depressed levels."
Headquartered in Taylor, Michigan, Masco Corporation is one of the
world's leading manufacturers of home improvement and building products,
as well as a leading provider of services that include the installation
of insulation and other building products.
Masco Corporation's press releases and other information are
available through the Company's toll free number, 1-888-MAS-NEWS, or
under the Investor Relations section of Masco's website at www.masco.com.
Statements contained herein that reflect the Company's views about its
future performance constitute "forward-looking statements" under the
Private Securities Litigation Reform Act of 1995. These views involve
risks and uncertainties that are difficult to predict and, accordingly,
the Company's results may differ materially from the results discussed
in such forward-looking statements. For an explanation of various
factors that may affect our performance, refer to our most recent Annual
Report on Form 10-K (particularly the "Risk Factors" section) and to
any subsequent Quarterly Reports on Form 10-Q, all of which are on file
with the Securities and Exchange Commission. The Company undertakes no
obligation to update any forward-looking statements, whether as a result
of new information, future events or otherwise. The Company believes
that certain non-GAAP performance measures and ratios that may be
contained herein, used in managing the business, may provide users of
this financial information with additional meaningful comparisons
between current results and results in prior periods. Non-GAAP
performance measures and ratios should be viewed in addition to, and not
as an alternative for, the Company's reported results under accounting
principles generally accepted in the United States. Additional
information about the Company is contained in the Company's filings with
the Securities and Exchange Commission and is available on Masco's
website at www.masco.com.
Media Contact
Sharon Rothwell
Vice President - Corporate Affairs
313.792.6028
sharon_rothwell@mascohq.com
Investor Contact
Maria Duey
Vice President - Investor Relations
313.792.5500
maria_duey@mascohq.com