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
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