Sector News

Dow announces new $3 billion share repurchase program; declares quarterly dividend of 70 cents per share

April 16, 2022
Energy & Chemical Value Chain

Dow (NYSE: DOW) announced today that its board of directors has approved a new share buyback program for the repurchase of up to $3 billion of the Company’s common stock. Additionally, Dow has declared a dividend of 70 cents per share, payable June 10, 2022, to shareholders of record on May 31, 2022. This marks the 443rd consecutive dividend payment by the Company or its affiliates since 1912.

“These actions reflect our continued focus to deliver leading cash flow generation and value growth as well as our ongoing commitment to disciplined and balanced capital allocation, where shareholder remuneration remains a key priority for Dow,” said Jim Fitterling, Dow chairman and CEO. “Since spin in April 2019, we have returned a total of $8.4 billion to shareholders through our share repurchases and industry-leading dividend – well above our target, which is to return 65% of operating net income to shareholders across the economic cycle.”

The $3 billion share repurchase program announced today does not have an expiration date and is additive to the current outstanding program, which has approximately $775 million of authorization remaining that the Company intends to repurchase by mid-2022.

By Dow, Press Release

Source: prnewswire.com

comments closed

Related News

May 17, 2024

Italian Treasury divests 2.8% stake in Eni for €1.4bn

Energy & Chemical Value Chain

Italy’s Treasury has sold a 2.8% stake in oil and gas company Eni, raising approximately €1.4bn. Despite this reduction, the Italian Government will own a third of Eni, with a combined stake of more than 30% held between the Treasury and state lender Cassa Depositi e Prestiti, which owns another 28.5% stake.

May 17, 2024

Umicore announces CEO succession

Energy & Chemical Value Chain

Umicore announces the appointment of Bart Sap as Chief Executive Officer, effective May 16th. He will succeed Mathias Miedreich who has decided to step down, in mutual agreement with the Supervisory Board. Bart Sap joined Umicore in 2004 and has been the Executive Vice President Catalysis since March 2021.

May 17, 2024

MOL Inaugurates €1.3 Billion Polyols Complex in Hungary

Energy & Chemical Value Chain

Hungarian energy and petrochemicals group MOL has inaugurated its €1.3 billion polyol complex in Tiszaújváros, Hungary, with a capacity of around 200,000 t/y of polyol, a widely used plastic raw material. According to MOL, the commissioning is a significant milestone, as it is the only company in Hungary and Central and Eastern Europe that covers the entire value chain from crude oil processing to polyol production.

How can we help you?

We're easy to reach