May 18, 2016

COVINGTON, Ky. - The board of directors of Ashland Inc. (NYSE: ASH) has declared a quarterly cash dividend of $0.39 per share on the company's common stock. The dividend is payable June 15, 2016, to shareholders of record at the close of business on June 3, 2016. As of April 30, 2016, there were 62,071,615 shares of Ashland common stock outstanding.

About Ashland
Ashland Inc. (NYSE: ASH) is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Through our three business units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline - we use good chemistry to make great things happen for customers in more than 100 countries. Visit ashland.com to learn more.
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FOR FURTHER INFORMATION:

Investor Relations:
Seth A. Mrozek            
+1 (859) 815-3527
[email protected]

Media Relations:
Gary Rhodes                                                              
+1 (859) 815-3047                                                     

[email protected]