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Eastman Board Increases Dividend for 12th Consecutive Year
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.76 per share, marking a 10% increase from the previous dividend of $0.69. This dividend will be payable on January 7, 2022, to stockholders of record as of December 15, 2021. This decision reflects the Board's confidence in the company's capacity for earnings growth and strong cash flow generation, aligning with Eastman's ongoing commitment to return cash to stockholders.
Positive
Quarterly dividend increased by 10% to $0.76 per share.
12th consecutive year of dividend increases.
Demonstrates confidence in future earnings growth and cash flow.
Negative
None.
KINGSPORT, Tenn.--(BUSINESS WIRE)--
The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.76 per share on the company's common stock, a 10 percent increase from $0.69 per share. The dividend is payable Jan. 7, 2022, to stockholders of record as of Dec. 15, 2021.
“I am pleased that for the 12th consecutive year, Eastman is increasing the dividend as part of our ongoing commitment to return cash to our stockholders,” said Willie McLain, senior vice president and chief financial officer. “This action reflects the Board’s confidence in our ability to deliver earnings growth and continue our record of generating strong cash flow.”
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end-markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2020 revenues of approximately $8.5 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.
