CHICAGO -- USG Corp.’s board of directors has declared a new quarterly dividend of 2½ cents per share payable March 21, 2001, to shareholders of record as of Feb. 23, 2001. The fourth-quarter dividend represents a decrease from the previous quarterly dividend of 15 cents per share.
The dividend reduction is consistent with other recently announced restructuring initiatives to maximize operating efficiency and increase cash flow as the company addresses a cyclical downturn in its businesses and the costs of asbestos litigation.