Masco Corporation Declares Quarterly Dividend

TAYLOR, Mich., March 27  /PRNewswire-FirstCall/ -- Masco Corporation (NYSE: MAS) today announced that its Board of Directors declared a quarterly dividend of $.075 per common share ($.30 per common share annually) payable on May 11, 2009, to shareholders of record on April 9, 2009, approving management's previous recommendation that the quarterly dividend be reduced from $.235 per common share ($.94 per common share annually).

The Company took this action as it expects that market conditions will continue to be extremely challenging over the next several quarters, given the uncertainty in the global economic and financial markets.  This action will save the Company approximately $240 million cash on an annualized basis.  The Company is focused on liquidity preservation to ensure its ability to fund its business operations, a relatively modest debt maturity due in early 2010, and growth opportunities that may arise.

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 Web Site at http://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 Web Site at http://www.masco.com/. 

DATASOURCE: Masco Corporation



CONTACT:  Maria Duey, Vice President - Investor Relations of Masco

Corporation, [phone], 



Web Site:  http://www.masco.com/ 

Copyright