BurrTim
13 years ago
Date of report (Date of earliest event reported): May 17, 2012
ASHLAND INC.
(Exact name of registrant as specified in its charter)
Kentucky
(State or other jurisdiction of incorporation)
1-32532 20-0865835
(Commission File Number) (I.R.S. Employer Identification No.)
50 E. RiverCenter Boulevard
P.O. Box 391
Covington, Kentucky 41012-0391
Registrantโs telephone number, including area code (859) 815-3333
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 . Other Events
Today, Ashland Inc. (the โCompanyโ) announced that the Companyโs Board of Directors intends to increase the annual dividend to 90 cents per share from its current annual rate of 70 cents per share, commencing with the June 15, 2012 dividend payment.
The increase in annual dividend is discussed further in the news release attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 . Financial Statements and Exhibits
(d) Exhibits
Exhibit Description
99.1 News Release dated May 17, 2012.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ASHLAND INC.
(Registrant)
May 17, 2012
/s/ Lamar M. Chambers
Lamar M. Chambers
Senior Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit Description
99.1
News Release dated May 17, 2012.
LCrigger
16 years ago
Will Ashland Channel Ben Graham?
From Hard Assets Investor (excerpt):
"Benjamin Graham, were he still alive, would likely be having a field day picking through today's market wreckage for bargains. Graham, the granddad of value investing and mentor to Warren Buffett, earned a reputation for deep-discount investing in the wake of the 1929 stock market crash.
Just as there were valuable bargains to be struck in the aftermath of the '29 collapse, there are enticing buys to be made now...
Take the stocks in the Basic Materials sector as examples. This segment, made up of companies in the chemical, mining, industrial metals and forestry/paper industries, was brutalized after a five-year bull run. In just five months, between June and November 2008, the Dow Jones US Basic Materials Sector Index lost nearly 59% of its value. Only recently has the benchmark started to show signs of stabilizing.
Among the stocks contributing to the index's decline was that of Ashland, Inc. (NYSE: ASH), a company Ben Graham would no doubt recognize. Well, old Ben would recognize part of the company, anyway. Originally founded in 1918 as Ashland Oil, the Kentucky-based company is now a diversified chemicals enterprise operating in four divisions.
What Ben Graham would see now if he were looking at Ashland is a company with surprisingly good fundamentals that's been chucked into the bargain basement along with a lot of sector dross."
Read the full article at http://www.hardassetsinvestor.com/features-and-interviews/1/1513-will-ashland-channel-ben-graham.html
MWM
16 years ago
Moody's cuts Ashland Inc.'s debt rating on buyout
Moody's lowers Ashland Inc.'s debt rating, citing higher leverage on Hercules buyout
November 14, 2008: 02:54 PM EST
NEW YORK (Associated Press) - Moody's Investor Service lowered Ashland Inc.'s Corporate Family Rating further into junk status on Friday on concerns of weaker future performance and exposure to acquisition debt after the company bought paper chemicals manufacturer Hercules Inc.
Ashland spokesman Jim Vitak said that based on Ashland's share price Thursday, the deal was pegged at $3.1 billion, which includes Ashland assuming about $700 million in Hercules debt.
Moody's cut the chemical company's rating to Ba2 from Ba1 and said the outlook for the Kentucky-based company was negative.
The single-notch downgrade, a result of the company's higher leverage, was anticipated when Moody's rated Ashland's proposed acquisition debt in September 2008. The negative ratings outlook reflected Ashland's lower third-quarter earnings, expectations for a weak fourth quarter, 2009 and 2010 performance and the uncertainty over the global economic slowdown.
Shares of Ashland fell 31 cents, or 1.7 percent, to $17. 59. The 52-week share price ranges between $16.73 and $58.58.