Dow Inc. - DOW STOCK NEWS

Dow (NYSE: DOW) has declared a quarterly dividend of 70 cents per share, payable on September 9, 2022, to shareholders of record by August 31, 2022. This marks the 444th consecutive dividend paid by the company or its affiliates since its establishment in 1912. Dow aims to lead in sustainable materials science, with reported sales of approximately $55 billion in 2021, and operates 104 manufacturing sites across 31 countries.

Dow (NYSE: DOW) and X-energy have entered a collaborative agreement to advance carbon emissions reduction by deploying X-energy's Xe-100 small modular nuclear technology at a Dow facility in the U.S. Gulf Coast by 2030. Dow will take a minority equity stake in X-energy, marking the first initiative by a major manufacturer to invest in small modular nuclear technology. This project aims to deliver cost-effective, carbon-free process heat and power, supporting Dow's target of a 30% reduction in scope 1 and 2 emissions by 2030, as part of its broader goal to achieve carbon neutrality by 2050.

Dow and Al-Hejailan Group have signed a Memorandum of Understanding to establish a joint venture for a methyl diethanolamine (MDEA) plant in Jubail, Saudi Arabia, aimed at addressing rising natural gas purification demand in the Middle East. The joint venture will be led by Al-Hejailan, with Dow holding a 25% stake. Construction is slated for 2024, with production expected by 2025. Additionally, Dow plans to build a facility to enhance MDEA-based products and fuel markers, reinforcing its commitment to energy transition solutions.

Dow and Mura Technology have partnered to build multiple advanced recycling facilities in the U.S. and Europe, aiming to add 600 kilotons of recycling capacity by 2030. This partnership enhances Dow's commitment to sustainability by converting plastic waste into circular feedstock, supporting global brands with recycled materials. The first plant in Teesside, U.K., is on track to be operational in 2023. The collaboration is part of Dow's broader strategy to accelerate a circular economy for plastics while significantly contributing to waste reduction efforts.

Dow reported second quarter 2022 GAAP earnings per share (EPS) of $2.26, down from $2.72 a year ago. Net sales reached $15.7 billion, a 13% increase year-over-year, driven by local price gains of 16%. Operating EBIT was $2.4 billion, down $453 million from the previous year, mainly due to higher raw material and energy costs. Equity earnings dropped to $195 million, impacted by lockdowns in China. The company returned $1.3 billion to shareholders through share repurchases and dividends, continuing its strategy to enhance shareholder value amidst challenging market conditions.

Dow has been honored as one of the 50 most community-minded companies in the U.S. for the second consecutive year by Points of Light. This recognition underscores Dow's commitment to corporate citizenship, with criteria focusing on resource investment, integration across functions, and impact measurement. Celebrating its 125th anniversary, Dow emphasizes the importance of engaging with communities and fostering sustainable practices. Their global citizenship strategy aligns closely with their Environmental, Social, and Governance (ESG) goals, demonstrating a strong focus on impactful community engagement.