Eastman Increases Dividend for 14th Consecutive Year

Rhea-AI Summary

Eastman Chemical Company (EMN) increases quarterly cash dividend to $0.81 per share, reflecting the Board's confidence in the company's ability to deliver solid earnings and strong cash flow. With a 14th consecutive year of dividend increase, Eastman remains committed to returning cash to stockholders. The global specialty materials company, founded in 1920, had 2022 revenue of approximately $10.6 billion and employs around 14,500 people worldwide.

Positive

• 14th consecutive year of dividend increase
• Reflects the Board's confidence in the company's ability to deliver solid earnings and strong cash flow
• Global specialty materials company with a long history and 2022 revenue of approximately $10.6 billion

Negative

• None.

KINGSPORT, Tenn.--(BUSINESS WIRE)-- The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared an increase in the quarterly cash dividend from $0.79 to $0.81 per share on its common stock. The dividend is payable Jan. 5, 2024, to stockholders of record as of Dec. 18, 2023.

“We remain committed to our long history of returning cash to our stockholders, and I am pleased that we are increasing our dividend for the 14^th consecutive year,” said Willie McLain, executive vice president and chief financial officer. “This action reflects the Board’s confidence in our ability to deliver solid earnings 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 14,500 people around the world and serves customers in more than 100 countries. The company had 2022 revenue of approximately $10.6 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/20231206168037/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 current dividend per share for Eastman Chemical Company (EMN)?

The current dividend per share for Eastman Chemical Company (EMN) is $0.81.

How many consecutive years has Eastman Chemical Company (EMN) increased its dividend?

Eastman Chemical Company (EMN) has increased its dividend for 14 consecutive years.

What was the 2022 revenue of Eastman Chemical Company (EMN)?

The 2022 revenue of Eastman Chemical Company (EMN) was approximately $10.6 billion.

Where is Eastman Chemical Company (EMN) headquartered?

Eastman Chemical Company (EMN) is headquartered in Kingsport, Tennessee, USA.

How many employees does Eastman Chemical Company (EMN) have?

Eastman Chemical Company (EMN) employs approximately 14,500 people worldwide.