Huntsman Announces 12% Increase in First Quarter 2023 Common Dividend and 2023 Annual Meeting of Stockholders

Rhea-AI Summary

Huntsman Corporation (NYSE: HUN) announced a $0.2375 per share cash dividend, reflecting a 12% increase from the prior dividend. The dividend is payable on March 31, 2023 to shareholders recorded as of March 15, 2023.

The company also scheduled its 2023 Annual Meeting of Stockholders for April 21, 2023, at 9:00 AM Central Time. Shareholders of record as of February 27, 2023 can vote.

Executive VP and CFO Phil Lister highlighted the company’s strong balance sheet and expected proceeds from the sale of Textile Effects, reinforcing its commitment to shareholder value.

Positive

• 12% increase in dividend amount to $0.2375 per share.
• Strong balance sheet indicates financial stability.
• Expected proceeds from the sale of Textile Effects to enhance cash flow.

Negative

• None.

THE WOODLANDS, Texas, Feb. 20, 2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that its Board of Directors has declared a $0.2375 per share cash dividend on its common stock. This represents a 12% increase from the previous dividend. The dividend is payable on March 31, 2023 to stockholders of record as of March 15, 2023.

Huntsman Corporation also announced it will hold its 2023 Annual Meeting of Stockholders in virtual meeting format only at 9:00a.m. Central Time on Friday, April 21, 2023. Holders of record as of the close of business on February 27, 2023 will be entitled to vote at the meeting.

Phil Lister, Executive Vice President and Chief Financial Officer commented:

"Given our strong balance sheet, expected proceeds from the sale of Textile Effects and free cash flow generation, we will continue our commitment to return value to our shareholders."

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2021 revenues of approximately $8 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.

Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, the anticipated timing to close the sale of the Textile Effects business, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.

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SOURCE Huntsman Corporation

FAQ

What is Huntsman Corporation's dividend amount for 2023?

Huntsman Corporation has declared a dividend of $0.2375 per share for 2023.

When is the dividend payable to shareholders?

The dividend is payable on March 31, 2023, to shareholders of record as of March 15, 2023.

What date is the 2023 Annual Meeting of Stockholders?

The 2023 Annual Meeting of Stockholders is scheduled for April 21, 2023.

What factors contribute to Huntsman's dividend increase?

The increase is attributed to a strong balance sheet and expected proceeds from the sale of Textile Effects.

How can shareholders vote in the Annual Meeting?

Shareholders of record as of February 27, 2023, are entitled to vote at the virtual meeting.