MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company and a global leader in vinyl acetate ethylene (EVA) emulsions, has announced that its board of directors has approved a 39% increase in the company's quarterly common stock cash dividend, reported the company on its site.
The dividend rate increased from USD0.18 to USD0.25 per share of common stock on a quarterly basis and from USD0.72 to USD1.00 per share of common stock on an annual basis. The new dividend rate will be applicable immediately.
"Our strong cash flow generation allows us to return more cash to shareholders. Since April 2012 we have more than quadrupled the quarterly dividend rate," said Mark Rohr, chairman and chief executive officer. "This 39% increase in our dividend rate results in a payout ratio of approximately 20%, reflecting our continued commitment to shareholder value and balanced capital deployment strategy."
The dividend is payable to stockholders of record as of May 5, 2014.
As MRC reported earlier, Celanese Corporation, has recently announced that it will increase the price of all GUR and GHR UHMW-PE grades sold in China. This price increase will be 15% and come in force on 1 May, 2014, or as contracts allow.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of USD6.5 billion.
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