Dow Chemical Boosts Dividend
MIDLAND — The Dow Chemical Co. (NYSE: DOW) announced Thursday that its board of directors has declared a 28 percent increase in the second quarter dividend, from 25 cents a share to 32 cents a share.
“This increase demonstrates our Board’s commitment to pursue a dividend policy that is reflective of a growth company long-term, and deploy cash against our three stated priorities — shareholder remuneration, debt paydown and organic investments in our portfolio,” said Andrew N. Liveris, Dow’s chairman and CEO. “Looking ahead, we are confident in our ability to continue to achieve higher and more sustainable earnings, and today’s announcement demonstrates our commitment to increasingly reward shareholders as we grow.”
The dividend will be payable on July 30 to shareholders of record on June 29. This will mark the 403rd consecutive cash dividend issued by the Company. Dow has paid its shareholders cash dividends every quarter since 1912.
Dow’s diversified portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company’s more than 5,000 products are manufactured at 197 sites in 36 countries across the globe.
More at www.dow.com.