Element Solutions Inc Declares Q4 Dividend of $0.08 Per Share and Announces Increase to Stock Repurchase Authorization

Rhea-AI Summary

Element Solutions Inc (NYSE: ESI) has declared a quarterly cash dividend of $0.08 per share, to be paid on December 15, 2021, with the record date set for December 1, 2021. Additionally, the company announced a significant $565 million increase to its stock repurchase program, raising the total authorization to $750 million. This increase allows for opportunistic repurchases at the company's discretion, showcasing confidence in enhancing shareholder value.

Positive

• $565 million increase in the stock repurchase program total authorization.
• Quarterly cash dividend of $0.08 per share enhances shareholder value.

Negative

• None.

MIAMI--(BUSINESS WIRE)-- Element Solutions Inc (NYSE: ESI) (the “Company”) announced today that its Board of Directors has declared a quarterly cash dividend of $0.08 per share of the Company's common stock. The declared dividend will be paid on December 15, 2021 to stockholders of record as of the close of business on December 1, 2021.

The Board has also authorized a $565 million increase to the Company’s stock repurchase program. The total authorized amount is now $750 million, which includes approximately $185 million in remaining capacity from its prior authorization. The increased stock repurchase authorization is effective immediately. Repurchases under the stock repurchase program may be made opportunistically at the discretion of the Company.

About Element Solutions Inc

Element Solutions Inc is a leading specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communication and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy. More information about the Company is available at www.elementsolutionsinc.com.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the payment of quarterly cash dividends and the repurchase of the Company’s shares of common stock in the future. These statements are based on management's estimates and assumptions with respect to future events, and are believed to be reasonable, though are inherently difficult to predict. Actual results could differ materially from those projected as a result of certain factors including, without limitation, factors contained in the Company’s periodic and other reports filed or to be filed with the Securities and Exchange Commission. In addition, the Company’s stock repurchase program has no time limit and may be modified, suspended or discontinued at any time at the board’s discretion. Share repurchases under the program may be made in the open market, in private transactions or otherwise with the amount and timing of repurchases to be determined at the Company’s discretion, depending on market conditions and corporate needs. Element Solutions undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118006037/en/

Investor Relations Contact:

Varun Gokarn

Senior Director, Strategy and Finance

Element Solutions Inc

1-561-406-8465

Media Contact:

Liz Cohen

Managing Director

Kekst CNC

1-212-521-4845

Source: Element Solutions Inc

FAQ

What is the dividend amount declared by Element Solutions Inc?

Element Solutions Inc has declared a quarterly cash dividend of $0.08 per share.

When will the dividend be paid for Element Solutions Inc?

The dividend will be paid on December 15, 2021.

What is the total amount authorized for the stock repurchase program of Element Solutions Inc?

The total authorized amount for the stock repurchase program is now $750 million.

When is the record date for the dividend payment from Element Solutions Inc?

The record date for the dividend payment is December 1, 2021.