Element Solutions Inc Declares Q4 Dividend of $0.08 Per Share and Announces Increase to Stock Repurchase Authorization
MIAMI--(BUSINESS WIRE)-- Element Solutions Inc (NYSE: ESI) (the “Company”) announced today that its Board of Directors has declared a quarterly cash dividend of $0.08 per share of the Company's common stock. The declared dividend will be paid on December 15, 2021 to stockholders of record as of the close of business on December 1, 2021.
The Board has also authorized a $565 million increase to the Company’s stock repurchase program. The total authorized amount is now $750 million, which includes approximately $185 million in remaining capacity from its prior authorization. The increased stock repurchase authorization is effective immediately. Repurchases under the stock repurchase program may be made opportunistically at the discretion of the Company.
About Element Solutions Inc
Element Solutions Inc is a leading specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communication and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy. More information about the Company is available at www.elementsolutionsinc.com.
This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the payment of quarterly cash dividends and the repurchase of the Company’s shares of common stock in the future. These statements are based on management's estimates and assumptions with respect to future events, and are believed to be reasonable, though are inherently difficult to predict. Actual results could differ materially from those projected as a result of certain factors including, without limitation, factors contained in the Company’s periodic and other reports filed or to be filed with the Securities and Exchange Commission. In addition, the Company’s stock repurchase program has no time limit and may be modified, suspended or discontinued at any time at the board’s discretion. Share repurchases under the program may be made in the open market, in private transactions or otherwise with the amount and timing of repurchases to be determined at the Company’s discretion, depending on market conditions and corporate needs. Element Solutions undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Senior Director, Strategy and Finance
Element Solutions Inc
Source: Element Solutions Inc
Released November 18, 2021