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(ICIS) -- US-based Dow Chemical increased
its dividend by 67%, the company said on Thursday, the first increase since 2009
when the company was contending with a series of crises. The increase will bring
the dividend to 25 cents/share, up from 15 cents/share, where it had been since
2009. Back then, Dow was struggling with uncertain credit markets, unprecedented
lower demand for chemical products, the global recession and what it called at
the time, "pending business issues". Specifically, Dow was intent on preserving
its investment-grade rating. Meanwhile, the company had just reached a
settlement to acquire Rohm and Haas for USD 78/share. Before the February 2009
decrease, Dow's dividend was 42 cents/share. The new dividend will be payable on
29 July to shareholders of record on 30 June.
mrcplast.com
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