Stepan Declares Quarterly Dividend

Rhea-AI Summary

On July 21, 2020, Stepan Company (NYSE:SCL) announced a quarterly cash dividend of $0.275 per share, payable on September 15, 2020, to shareholders of record as of August 31, 2020. This marks the 52nd consecutive year of dividend increases, with the last hike of $0.025 implemented in Q4 2019. Stepan Company specializes in manufacturing specialty chemicals across various industries, including surfactants and polyurethane polyols, and operates globally across North and South America, Europe, and Asia.

Positive

• Declaring a quarterly cash dividend of $0.275 per share reflects strong financial stability.
• The increase in dividends for 52 consecutive years demonstrates consistent shareholder returns.

Negative

• None.

NORTHFIELD, Ill., July 22, 2020 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported:

On July 21, 2020, the Board of Directors of Stepan Company declared a quarterly cash dividend on the Company's common stock of $0.275 per share.  The dividend is payable on September 15, 2020, to common stockholders of record on August 31, 2020. The Company increased its quarterly cash dividend in the fourth quarter of 2019 by $0.025 per share, marking the 52nd consecutive year that the Company has increased its cash dividend to stockholders.

Corporate Profile

Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.

Headquartered in Northfield, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia.

The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com

More information about Stepan's sustainability program can be found on the Sustainability page at www.stepan.com

Contact: Luis E. Rojo 847-446-7500

Certain information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements about Stepan Company's plans, objectives, strategies, financial performance and outlook, trends, the amount and timing of future cash distributions, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, Stepan Company's actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "guidance," "predict," "potential," "continue," "likely," "will," "would," "should," "illustrative" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Stepan Company and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements.

There are a number of risks, uncertainties and other important factors, many of which are beyond Stepan Company's control, that could cause actual results to differ materially from the forward-looking statements contained in this news release. Such risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in Stepan Company's Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports, and include (but are not limited to) risks and uncertainties related to the impact of the COVID-19 pandemic; accidents, unplanned production shutdowns or disruptions in manufacturing facilities; reduced demand due to customer product reformulations or new technologies; our inability to successfully develop or introduce new products; compliance with laws; our ability to identify suitable acquisition candidates and successfully complete and integrate acquisitions; global competition; volatility of raw material and energy costs and supply; disruptions in transportation or significant changes in transportation costs; downturns in certain industries and general economic downturns; international business risks, including currency exchange rate fluctuations, legal restrictions and taxes; unfavorable resolution of litigation against us; maintaining and protecting intellectual property rights; our ability to access capital markets; global political, military, security or other instability; costs related to expansion or other capital projects; interruption or breaches of information technology systems; our ability to retain executive management and key personnel; and our debt covenants.

These forward-looking statements are made only as of the date hereof, and Stepan Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

 

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SOURCE Stepan Company

FAQ

What is the dividend amount for Stepan Company in 2020?

The dividend amount declared by Stepan Company in 2020 is $0.275 per share.

When will the dividend for SCL be paid?

The dividend for SCL will be paid on September 15, 2020.

Who is eligible for the dividend from Stepan Company?

Shareholders of Stepan Company on record as of August 31, 2020, are eligible for the dividend.

How many consecutive years has Stepan Company increased its dividend?

Stepan Company has increased its dividend for 52 consecutive years.