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Trinseo announces quarterly dividend

October 06/2020

MOSCOW (MRC) -- Trinseo, a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, has announced that its Board of Directors authorized a quarterly dividend of USD0.40 per share, as per the company's press release.

The dividend will be a cash distribution payable on October 22, 2020, to shareholders of record as of the close of business on October 8, 2020.

Trinseo is a public limited liability company formed under the laws of Luxembourg. Under current Luxembourg tax law, distributions to shareholders via repayments of equity or share premium are not subject to Luxembourg withholding tax. Distributions made by Trinseo before 2020 were repayments of equity or share premium and were therefore not subject to Luxembourg withholding tax.

This quarterly distribution will be considered a dividend made on the common shares and is subject to a 15% withholding tax under Luxembourg law. Trinseo will deduct this tax from the dividends paid to our shareholders and transfer this tax to the Luxembourg tax authorities.

As MRC reported earlier, material suppliers Ineos Styrolution and Trinseo are advancing their plans to build whatТs being called a "first-of-its-kind" polystyrene (PS) recycling in Wingles, northern France. The planned full commercial scale recycling facility will be capable of processing up to 50 tons-per-day of post-consumer PS feedstock, the companies said in a Sept. 17 statement, and is expected to be fully operational by mid-2023.

According to MRC's ScanPlast report, Russia's overall estimated consumption of PS and styrene plastics was 45,980 tonnes in July 2020, up by 18% year on year (39,080 tonnes a year earlier). Consumption of PS and styrene plastics in Russia was 268,750 tonnes in January-July 2020, down by 6% year on year.

Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD3.8 billion in net sales in 2019, with 17 manufacturing sites around the world, and approximately 2,700 employees.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PS, styrene, recikling, Ineos Styrolution, Trinseo (Styron), Russia.
Category:General News
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