Orion Engineered Carbons Declares Interim Quarterly Dividend

Rhea-AI Summary

Orion Engineered Carbons (NYSE: OEC) has declared an interim dividend of $0.0207 per common share, totaling approximately $1.25 million based on current shares outstanding. The dividend is set for payment on July 6, 2023, with a record date of May 17, 2023. Shareholders will face a 15% Luxembourg withholding tax, which may have exemptions. Orion specializes in producing carbon black for various applications including tires and coatings, and operates globally with a focus on sustainable solutions. This move reflects the company's ongoing commitment to returning value to shareholders.

Positive

• Interim dividend declared at $0.0207 per share, totaling $1.25 million.
• Demonstrates the company's commitment to shareholder value.
• Established market presence with diverse production capabilities.

Negative

• 15% Luxembourg withholding tax may reduce the actual dividend received by shareholders.

HOUSTON--(BUSINESS WIRE)-- Orion Engineered Carbons S.A. (NYSE: OEC), a specialty chemical company, today announced that its board of directors has declared an interim dividend to be paid in the third quarter of 2023 of $0.0207 per common share of the company, which is equivalent to the aggregate amount of approximately $1.25 million based on the number of common shares currently outstanding.

The interim dividend will be paid on July 6, 2023, to holders of record as of the close of business on May 17, 2023. Luxembourg withholding tax at a rate of 15% will be deducted from each interim dividend, subject to exemptions and reductions in certain circumstances.

About Orion Engineered Carbons

Orion Engineered Carbons (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers’ exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability, and add UV protection. Orion has innovation centers on three continents and 15 plants worldwide, offering the most diverse variety of production processes in the industry. The company’s corporate lineage goes back more than 160 years to Germany, where it operates the world’s longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers’ needs to deliver sustainable solutions. For more information, please visit orioncarbons.com.

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including regarding the expected payment of an interim dividend. Forward-looking statements are statements of future expectations that are based on current expectations and assumptions and involve known and unknown risks and uncertainties, including risks related to our expected payment of the interim dividend and the other risks and uncertainties listed under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, each of which could cause actual results, performance, or events to differ materially from those expressed or implied in these statements. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. New risk factors and uncertainties emerge from time to time, and it is not possible to predict all risk factors and uncertainties, nor can we assess the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or other information, other than as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005714/en/

Wendy Wilson

Orion Engineered Carbons

Head of Investor Relations

wendy.wilson@orioncarbons.com

+1 281-974-0155

William Foreman

Orion Engineered Carbons

Director of Corporate Communications and Government Affairs

william.foreman@orioncarbons.com

Direct: +1 832-445-3305

Mobile: +1 281-889-7833

Source: Orion Engineered Carbons S.A.

FAQ

What is the dividend amount declared by Orion Engineered Carbons?

Orion Engineered Carbons declared an interim dividend of $0.0207 per share.

When will the interim dividend for OEC be paid?

The interim dividend will be paid on July 6, 2023.

What is the record date for the dividend payment from Orion Engineered Carbons?

The record date for the dividend payment is May 17, 2023.

Is there a tax on the interim dividend declared by OEC?

Yes, a 15% Luxembourg withholding tax will be deducted from each interim dividend.