Summary
Corning Incorporated (GLW) announced on November 29, 2010, a significant event involving dividend payments received by its wholly-owned subsidiaries from Samsung Corning Precision Materials Co., Ltd. (SCP). The total dividend received amounted to 1.44 trillion Korean Won, which is approximately $1.24 billion USD. This dividend stems from Corning's 50% ownership stake in SCP, a joint venture.
Key Highlights
- 1Corning received a substantial dividend payment of approximately $1.24 billion USD.
- 2The dividend originated from Corning's 50% stake in Samsung Corning Precision Materials Co., Ltd. (SCP).
- 3The total dividend amount was 1.44 trillion Korean Won.
- 4The payment was received by Corning's wholly-owned subsidiaries, Corning Hungary Data Services Limited Liability Company and Corning International Corporation.
- 5This 8-K filing is categorized under 'Other Events'.