Eastman Increases Dividend for 13th Consecutive Year

Rhea-AI Summary

The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.79 per share, marking a 4% increase from the previous dividend of $0.76. This dividend will be payable on January 6, 2023, to stockholders of record as of December 15, 2022. This increase signifies Eastman's commitment to returning cash to shareholders and reflects confidence in its ability to generate strong earnings and cash flows, having raised the dividend for 13 consecutive years.

Positive

• Dividend increased to $0.79 per share, reflecting a 4% growth.
• Dividend raised for 13 consecutive years, indicating strong financial confidence.
• Demonstrates commitment to returning cash to stockholders.

Negative

• None.

KINGSPORT, Tenn.--(BUSINESS WIRE)-- The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.79 per share on the company’s common stock, a 4 percent increase from $0.76 per share. The dividend is payable Jan. 6, 2023, to stockholders of record as of Dec. 15, 2022.

“With this increase, Eastman has raised the dividend for 13 consecutive years, demonstrating the Board’s confidence in our ability to generate strong earnings and cash flows,” said Willie McLain, senior vice president and chief financial officer. “This action also reflects Eastman’s commitment to returning cash to our stockholders and to maintaining a strong financial position as we execute our innovation-driven growth strategy.”

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 2021 revenue of approximately $10.5 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005990/en/

Media: Tracy Kilgore Addington

423-224-0498 / tracy@eastman.com

Investors: Greg Riddle

212-835-1620 / griddle@eastman.com

Source: Eastman Chemical Company

FAQ

What is the new dividend amount for Eastman Chemical Company?

Eastman Chemical Company has declared a new dividend amount of $0.79 per share.

When will the new dividend for EMN be paid?

The new dividend will be payable on January 6, 2023.

What date is the record for the EMN dividend?

Stockholders of record for the dividend must be on record by December 15, 2022.

How long has Eastman Chemical Company been increasing its dividend?

Eastman Chemical Company has raised its dividend for 13 consecutive years.

How does the dividend increase reflect Eastman's financial position?

The dividend increase reflects Eastman's confidence in generating strong earnings and cash flows.