Quaker Chemical Corporation Announces Quarterly Dividend
June 23 2009 - 5:30PM
PR Newswire (US)
CONSHOHOCKEN, Pa., June 23 /PRNewswire-FirstCall/ -- The Board of
Directors of Quaker Chemical Corporation (NYSE:KWR) today declared
a quarterly dividend of $0.23 per share, payable on July 31, 2009,
to shareholders of record at the close of business on July 17,
2009. Michael F. Barry, Chairman, Chief Executive Officer and
President, commented, "As expected, we continue to see improvement
in our second quarter earnings compared to the first quarter,
primarily due to the actions taken as we reacted to significantly
lower volumes in our markets. In addition, we have received
favorable news relative to two of our customers, GM and Chrysler.
While both customers filed for bankruptcy during the second
quarter, we have been notified by each of them that our
pre-bankruptcy invoices will be paid and, therefore, we anticipate
having no or limited bad debt exposure." Quaker Chemical
Corporation is a leading global provider of process chemicals,
chemical specialties, services, and technical expertise to a wide
range of industries -- including steel, automotive, mining,
aerospace, tube and pipe, coatings, and construction materials. Our
products, technical solutions, and chemical management services
enhance our customers' processes, improve their product quality,
and lower their costs. Quaker's headquarters is located near
Philadelphia in Conshohocken, Pennsylvania. This release contains
forward-looking statements that are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those projected in such statements. A major risk is that the
Company's demand is largely derived from the demand for its
customers' products, which subjects the Company to downturns in a
customer's business and unanticipated customer production
shutdowns. Other major risks and uncertainties include, but are not
limited to, significant increases in raw material costs, customer
financial stability, worldwide economic and political conditions,
foreign currency fluctuations, and future terrorist attacks such as
those that occurred on September 11, 2001. Other factors could also
adversely affect us. Therefore, we caution you not to place undue
reliance on our forward-looking statements. This discussion is
provided as permitted by the Private Securities Litigation Reform
Act of 1995. DATASOURCE: Quaker Chemical Corporation CONTACT: Mark
A. Featherstone, Vice President and Chief Financial Officer of
Quaker Chemical Corporation, +1-610-832-4160 Web Site:
http://www.quakerchem.com/
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