LANCASTER, PA - Armstrong World Industries, Inc. (NYSE: AWI) confirmed it will pay an $8.50 per share dividend. 

The total will be about $500 million, funded by surplus cash and $250 million in new debt by the maker of cabients, wood and resilient flooring, and construction materials. Armstrong says the dividend will be paid April 10, 2012. The flooring, cabinet and construction materials firm said last week it was considering the move.