Dow Chemical Co DOW announced Wednesday that its Board of Directors has declared a 14 percent increase in the company’s dividend, from $0.37 per share to $0.42 per share in the fourth quarter.
According to the company’s press release, this brings the annualized dividend to $1.68 per share.
The dividend will be payable on January 30, 2015 to shareholders of record on December 31, 2014.
The company also announced a new $5 billion tranche to its share repurchase program, bringing the total program to $9.5 billion.
"Today’s announcement serves as a firm indication of our Board’s confidence in Dow’s fortified balance sheet position and future earnings potential, and further illustrates our commitment to consistently and increasingly rewarding shareholders," said Andrew N. Liveris, Dow’s chairman and chief executive officer.
Dow Chemical traded at $50.30 in the premarket, up 1.6 percent.
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