Corning shares surged on June 29 following a reclassification from value to growth benchmarks. This change occurred during the FTSE Russell indexes' semi-annual reconstitution.
The move became effective at the market open. Corning joined several growth-focused indexes, including the Russell 1000 Growth and Russell Top 200 Growth.
Passive and active investment funds tracking these indexes purchased shares to update their portfolios.
Corning's board also affirmed a quarterly dividend of $0.28 per share. This dividend is payable in September 2026.