Stepan Declares Quarterly Dividend

Rhea-AI Summary

Stepan Company (NYSE: SCL) has declared a quarterly cash dividend of $0.375 per share on its common stock, payable on September 13, 2024, to stockholders of record as of August 30, 2024. This declaration marks the 56th consecutive year of dividend increases for the company, following a $0.010 per share increase in the fourth quarter of 2023.

Stepan is a major manufacturer of specialty and intermediate chemicals, focusing on surfactants for cleaning and agricultural products, polyurethane polyols for thermal insulation, and materials for the CASE industries. The company operates production facilities across North and South America, Europe, and Asia.

Positive

• Declared quarterly dividend of $0.375 per share
• 56 consecutive years of dividend increases
• Diverse product portfolio in specialty and intermediate chemicals
• Global production network across multiple continents

Negative

• None.

NORTHBROOK, Ill., July 31, 2024 /PRNewswire/ -- Stepan Company (NYSE: SCL) today reported:

The Board of Directors of Stepan Company has declared a quarterly cash dividend on the Company's common stock of $0.375 per share. The dividend is payable on September 13, 2024, to common stockholders of record on August 30, 2024. The Company increased its quarterly cash dividend in the fourth quarter of 2023 by $0.010 per share, marking the 56th 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 Northbrook, 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.

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 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

When is Stepan Company's (SCL) next dividend payment date?

Stepan Company's next dividend payment date is September 13, 2024, for stockholders of record as of August 30, 2024.

What is the current quarterly dividend amount for Stepan Company (SCL)?

The current quarterly dividend for Stepan Company (SCL) is $0.375 per share.

How many consecutive years has Stepan Company (SCL) increased its dividend?

Stepan Company (SCL) has increased its dividend for 56 consecutive years.

What are the main product areas for Stepan Company (SCL)?

Stepan Company (SCL) mainly produces surfactants for cleaning and agricultural products, polyurethane polyols for thermal insulation, and materials for the CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.