Ashland says it has raised the quarterly dividend on its common stock by 12%, to 33.5 cents/share. The dividend will be payable on 15 June to shareholders of record as of 1 June, said the company.
The company has also established a new share buyback program worth USD500 million, replacing a previous USD1-billion buyback authorization from 2018. Shares will be repurchased in the open market or in privately negotiated transactions.
As of 30 April, Ashland had about 54.1 million shares outstanding.
As MRC informed previously, in late February 2022, Arkema closed its previously announced acquisition of Ashland’s Performance Adhesives business for around USD1.65bn in an all-cash transaction. The company signed an agreement to acquire Ashland’s business in August last year. Ashland’s Performance Adhesives business supplies a wide range of adhesives for flexible packaging and pressure-sensitive adhesives for various markets, including decorative labels, protection and signage films for automotives and buildings. The business operates a network of six production plants, most of which are located in North America, and has around 330 employees.
Ashland Global Holdings Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for sustainability. The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceuticals. Approximately 3,800 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries.
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