Trinseo Announces Quarterly Dividend of $0.01 Per Share

Rhea-AI Summary

Trinseo (NYSE: TSE), a specialty material solutions provider, announced a quarterly dividend of $0.01 per share. The cash distribution will be payable on July 22, 2024, to shareholders of record as of July 7, 2024. The announcement marks a strategic decision by the company's Board of Directors to provide returns to shareholders.

Positive

• Quarterly dividend of $0.01 per share provides income to shareholders.
• Dividend announcement reflects board's confidence in the company's financial stability.

Negative

• Low dividend amount might indicate cautious financial outlook or cash reserves.

WAYNE, Pa.--(BUSINESS WIRE)-- Trinseo (NYSE: TSE), a specialty material solutions provider, today announced that its Board of Directors authorized a quarterly dividend of $0.01 per share. The dividend will be a cash distribution payable on July 22, 2024 to shareholders of record as of the close of business on July 7, 2024.

About Trinseo

Trinseo (NYSE: TSE), a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.

From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers’ unique challenges in a wide range of industries, including building and construction, consumer goods, medical and mobility.

Trinseo’s approximately 3,100 employees bring endless creativity to reimagining the possibilities with clients all over the world from the company’s locations in North America, Europe and Asia Pacific. Trinseo reported net sales of approximately $3.7 billion in 2023. Discover more by visiting www.trinseo.com and connecting with Trinseo on LinkedIn, Twitter, Facebook and WeChat.

Cautionary Note on Forward-Looking Statements

This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, forecasts, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like “expect,” “anticipate,” “believe,” “intend,” “forecast,” “outlook,” “will,” “may,” “might,” “see,” “tend,” “assume,” “potential,” “likely,” “target,” “plan,” “contemplate,” “seek,” “attempt,” “should,” “could,” “would” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy, our current indebtedness, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, our ability to successfully implement proposed restructuring initiatives and to successfully generate cost savings through restructuring and cost reduction initiatives; our ability to successfully execute our business and transformation strategy; increased costs or disruption in the supply of raw materials; deterioration of our credit profile limiting our access to commercial credit;increased energy costs; compliance with laws and regulations impacting our business; any disruptions in production at our chemical manufacturing facilities, including those resulting from accidental spills or discharges; conditions in the global economy and capital markets; our current and future levels of indebtedness and ability to service our debt; our ability to meet the covenants under our existing indebtedness; our ability to generate cash flows from operations; and those discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results, performance or achievements may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627894874/en/

Andy Myers

Tel : +1 610-240-3221

Email: aemyers@trinseo.com

Source: Trinseo

FAQ

What is the dividend amount for Trinseo's quarterly distribution?

Trinseo announced a quarterly dividend of $0.01 per share.

When will Trinseo's dividend be paid?

The dividend will be payable on July 22, 2024.

What is the record date for Trinseo's upcoming dividend?

Shareholders of record as of July 7, 2024, will be eligible for the dividend.

What does the dividend announcement mean for Trinseo shareholders?

The dividend provides a return to shareholders and reflects the company's effort to distribute value.

Is Trinseo's dividend amount a positive sign for the company?

While it provides income to shareholders, the low amount may suggest a cautious financial outlook.