Celanese Corporation Increases Dividend 28 Percent and Declares Quarterly Dividend
April 20 2017 - 9:32AM
Business Wire
Announces Plan to Increase Dividends Over
Next Three Years
Celanese Corporation (NYSE:CE), a global technology and
specialty materials company, today announced that its board of
directors has approved a 28 percent increase in the company's
quarterly common stock cash dividend.
The dividend rate increased from $0.36 to $0.46 per share of
common stock on a quarterly basis and from $1.44 to $1.84 per share
of common stock on an annual basis. The new dividend rate will be
applicable immediately.
“We believe that consistently increasing our dividend is
integral to maximizing long term shareholder value. We have
increased dividends significantly over the last several years,
distributing $201 million in dividends in 2016 compared to $43
million in 2012. As a continuation of this commitment, today we are
announcing a plan to increase our cash dividends by at least an
additional 50% cumulatively over a three year period. Today’s
increase is the first of three annual steps to target dividends
paid to our shareholders of $300 million or more in 2019,” said
Mark Rohr, chairman and chief executive officer.
The company also declared a quarterly cash dividend of $0.46 per
share on its Series A common stock, payable on May 11, 2017.
The dividend is payable to stockholders of record as of May 1,
2017.
About Celanese
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.
Our two complementary business cores, Acetyl Chain and Materials
Solutions, use the full breadth of Celanese's global chemistry,
technology and business expertise to create value for our customers
and the corporation. As we partner with our customers to solve
their most critical business needs, we strive to make a positive
impact on our communities and the world through The Celanese
Foundation. Based in Dallas, Celanese employs approximately 7,300
employees worldwide and had 2016 net sales of $5.4 billion. For
more information about Celanese Corporation and its product
offerings, visit www.celanese.com or
our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International
Corporation or its affiliates.
Forward-Looking Statements
This release may contain "forward-looking statements," which
include information concerning the company's plans, objectives,
goals, strategies, future revenues or performance, capital
expenditures, financing needs and other information that is not
historical information. All forward-looking statements are based
upon current expectations and beliefs and various assumptions.
There can be no assurance that the company will realize these
expectations or that these beliefs will prove correct. There are a
number of risks and uncertainties that could cause actual results
to differ materially from the results expressed or implied in the
forward-looking statements contained in this release. These risks
and uncertainties include, among other things: changes in general
economic, business, political and regulatory conditions in the
countries or regions in which we operate; the length and depth of
product and industry business cycles, particularly in the
automotive, electrical, textiles, electronics and construction
industries; changes in the price and availability of raw materials,
particularly changes in the demand for, supply of, and market
prices of ethylene, methanol, natural gas, wood pulp and fuel oil
and the prices for electricity and other energy sources; the
ability to pass increases in raw material prices on to customers or
otherwise improve margins through price increases; the ability to
maintain plant utilization rates and to implement planned capacity
additions and expansions; the ability to reduce or maintain their
current levels of production costs and to improve productivity by
implementing technological improvements to existing plants;
increased price competition and the introduction of competing
products by other companies; market acceptance of our technology;
the ability to obtain governmental approvals and to construct and
improve facilities on terms and schedules acceptable to the
company; changes in the degree of intellectual property and other
legal protection afforded to our products or technologies, or the
theft of such intellectual property; compliance and other costs and
potential disruption or interruption of production or operations
due to accidents, interruptions in sources of raw materials, cyber
security incidents, terrorism or political unrest or other
unforeseen events or delays in construction or operation of
facilities, including as a result of geopolitical conditions, the
occurrence of acts of war or terrorist incidents or as a result of
weather or natural disasters; potential liability for remedial
actions and increased costs under existing or future environmental
regulations, including those relating to climate change; potential
liability resulting from pending or future litigation, or from
changes in the laws, regulations or policies of governments or
other governmental activities in the countries in which we operate;
changes in currency exchange rates and interest rates; our level of
indebtedness, which could diminish our ability to raise additional
capital to fund operations or limit our ability to react to changes
in the economy or the chemicals industry; and various other factors
discussed from time to time in the company's filings with the
Securities and Exchange Commission. Any forward-looking statement
speaks only as of the date on which it is made, and the company
undertakes no obligation to update any forward-looking statements
to reflect events or circumstances after the date on which it is
made or to reflect the occurrence of anticipated or unanticipated
events or circumstances.
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version on businesswire.com: http://www.businesswire.com/news/home/20170420005848/en/
Celanese CorporationInvestor RelationsSurabhi
Varshney, +1-972-443-3078Surabhi.Varshney@celanese.comorMedia Relations
- GlobalTravis Jacobsen, +1-972-443-3750William.Jacobsen@celanese.com
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