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US-based Dow Chemical increased its dividend by 67%

April 15/2011

(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.

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