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FMC Corporation increases dividend

December 03/2020

MOSCOW (MRC) -- Diversified chemical company FMC Corporation says it will raise its quarterly cash dividend by 9%, reported Chemweek.

The dividend, now 48 cent/share, will be paid on 21 January 2021 to shareholders of record as of 31 December 2020

Today's announcement reflects our policy to increase the dividend by at least the same rate of net income growth, as a part of our overall commitment to return excess cash to shareholders, says Andrew Sandifer, executive vice president and CFO at FMC.

As MRC wrote previously, in 2012, FMC Corporation completed the acquisition of Phytone, a UK-based producer of natural colours. Phytone's natural colour products and formulations are used by the personal care, food, beverage and nutrition industries. FMC operates its businesses in three segments, including FMC BioPolymer, FMC Agricultural Products and FMC Alkali Chemicals.

And in 2017, FMC Corporation and DuPont announced the signing of a definitive agreement for FMC to acquire the portion of DuPont's Crop Protection business it had to divest to comply with the European Commission ruling related to its merger with The Dow Chemical Company. September production of primary polymers decreased to 852,000 tonnes from 888,000 tonnes in August due to shutdowns in Tomsk, Ufa and Kazan. Overall output of polymers in primary form totalled 7,480,000 tonnes over the stated period, up by 16.4%  year on year.

We remind that Russia's output of chemical products rose in September 2020 by 6.7% year on year.
At the same time, production of basic chemicals increased year on year by 6.1% in the first nine months of 2020, according to Rosstat"s data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-September output.
Author:Margaret Volkova
Tags:Europe, bioplastics, petrochemistry, paints and coatings, Dow, DuPont, UK.
Category:General News
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