Georgia Gulf suspends dividend; housing market partially to blame

By Lisa Kerner

Charlotte, N.C., Sept. 17 - Georgia Gulf Corp. said its board of directors suspended the quarterly cash dividend and blamed weak economic conditions, particularly the U.S. housing market, for the move.

The company recently amended its senior credit facility, adjusting some financial covenant ratios to reflect current market conditions, a Georgia Gulf news release said.

According to Georgia Gulf, it is considering options to refinance the senior credit facility for greater long-term flexibility.

Atlanta-based Georgia Gulf manufactures chlorovinyls, aromatics and vinyl-based building and home improvement products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.