NL SUSPENDS REGULAR QUARTERLY DIVIDEND
May 08 2014 - 5:01PM
DALLAS, TEXAS - May 8, 2014 - NL
Industries, Inc. (NYSE:NL) today announced that its Board of
Directors suspended NL's regular quarterly dividend of twelve and
one-half cents ($0.125) per share on its common stock. In
February 2014, NL's Board of Directors deferred consideration of a
first quarter 2014 cash dividend, and no dividend was paid in the
first quarter.
Steven L. Watson, chairman of the
board of NL, said, "The regular quarterly dividend was suspended
after considering NL's results of operations, financial condition
and cash requirements for its businesses. The declaration and
payment of future dividends, and the amount thereof, will be
dependent upon these and other factors deemed relevant by our Board
of Directors. "
Statements in this release
relating to matters that are not historical facts are
forward-looking statements based upon management's belief and
assumptions using currently available
information. Although NL believes the expectations
reflected in such forward-looking statements are reasonable, it
cannot give any assurances that these expectations will prove to be
correct. Such statements, by their nature, involve
substantial risks and uncertainties that could significantly impact
expected results, and actual future results could differ materially
from those described in such forward-looking
statements. While it is not possible to identify all
factors, NL continues to face many risks and
uncertainties. Among the factors that could cause actual
future results to differ materially include, but are not limited
to, general economic and political conditions, future supply and
demand for our products, the cyclicality of our businesses, changes
in raw material and other operating costs, environmental matters,
the ultimate outcome of pending litigation, possible future
litigation and other risks and uncertainties detailed in NL's
filings with the U.S. Securities and Exchange
Commission. Should one or more of these risks
materialize (or the consequences of such a development worsen), or
should the underlying assumptions prove incorrect, actual results
could differ materially from those forecast or
expected. NL disclaims any intention or obligation to
publicly update or revise such statements whether as a result of
new information, future events or otherwise.
NL Industries, Inc. is engaged in
the component products (security products and recreational marine
components), chemicals (TiO2) and other
businesses.
Source: NL Industries,
Inc.
Contact: Gregory M. Swalwell, Executive Vice President and
Chief Financial Officer, 972-233-1700
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: NL Industries via Globenewswire
HUG#1783988
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