Dividend increased for third consecutive year
KINGSPORT, Tenn. Dec. 5, 2013 - The Board of Directors of Eastman Chemical Company (EMN) has increased the quarterly cash dividend by 17 percent to $0.35 per share on the company`s common stock. The dividend is payable January 2, 2014, to stockholders of record as of December 16, 2013.
"With this increase, the dividend has been raised for three consecutive years, which demonstrates the Board`s confidence in our ability to generate continued earnings growth and strong cash flows," said Curt Espeland, senior vice president and chief financial officer. "We remain committed to maintaining a strong financial position as we execute our strategy to deliver consistent, superior value."
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2012 pro forma combined revenues, giving effect to the Solutia acquisition, of approximately $9.1 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.
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Source: Eastman Chemical Company via GlobeNewswire