Midland-based Dow Chemical Co. (NYSE: DOW) announced that its board of directors has declared a 67 percent increase in the second quarter dividend, from 15 cents a share to 25 cents a share.
“This dividend increase clearly illustrates our board’s commitment to increasingly reward our shareholders as we continue to grow earnings,” said Andrew N. Liveris, Dow’s chairman and CEO. “The growth potential of our transformed enterprise was on full display in 2010. Our enhanced financial flexibility and robust portfolio of businesses make us well positioned to deliver sustainable growth, and today’s announcement further demonstrates Dow’s commitment to continue to enhance value for our shareholders, and to pursue a dividend policy that is reflective of a growth company long term.”
The dividend will be payable on July 29, 2011 to shareholders of record on June 30, 2011. This will mark the 399th consecutive cash dividend issued by the Company. Dow has paid its shareholders cash dividends every quarter since 1912.
More at www.dow.com.