Celanese Corporation Increases Dividend 10 Percent and Declares Quarterly Dividend

Rhea-AI Summary

Celanese Corporation (NYSE:CE) has announced a 10% increase in its quarterly cash dividend, raising it from $0.62 to $0.68 per share. This dividend adjustment reflects anticipated earnings growth and strong cash generation for 2021. The new annual dividend rises from $2.48 to $2.72 per share, with the payment scheduled for February 23, 2021 to stockholders of record by February 9, 2021. CEO Lori Ryerkerk emphasized the company's commitment to growing dividends in line with future earnings, enhancing total shareholder value.

Positive

• 10% increase in quarterly cash dividend from $0.62 to $0.68 per share.
• Annual dividend rises from $2.48 to $2.72 per share.
• Company anticipates earnings growth and strong cash generation in 2021.

Negative

• None.

Celanese Corporation (NYSE:CE), a global chemical and specialty materials company, today announced that its board of directors has approved a 10 percent increase in the company’s quarterly common stock cash dividend.

The dividend increase from $0.62 to $0.68 per share of common stock on a quarterly basis and from $2.48 to $2.72 per share of common stock on an annual basis. The new dividend rate will be effective immediately.

“We accelerated the typical timing of the increase to our quarterly dividend this year in light of anticipated earnings growth in 2021 and the strength of our cash generation. We intend to continue growing our quarterly dividend in line with future earnings growth as a foundational component of our total shareholder value creation,” said Lori Ryerkerk, chairman and chief executive officer.

The company also declared a quarterly cash dividend of $0.68 per share on its common stock, payable on February 23, 2021 to stockholders of record as of February 9, 2021.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

All registered trademarks are owned by Celanese International Corporation or its affiliates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210128005777/en/

FAQ

What is the new dividend amount for Celanese Corporation (CE)?

The new quarterly dividend amount is $0.68 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on February 23, 2021.

What was the previous dividend amount for Celanese Corporation (CE)?

The previous quarterly dividend amount was $0.62 per share.

When is the record date for the dividend payment?

The record date for the dividend payment is February 9, 2021.

How much has Celanese Corporation (CE) increased its annual dividend?

Celanese has increased its annual dividend from $2.48 to $2.72 per share.