Celanese Corporation (NYSE:CE), a global technology and specialty
materials company, today announced that its board of directors has
approved a 100 percent increase in the company's quarterly common stock
cash dividend. The dividend rate increased from $0.09 to $0.18 per share
of common stock on a quarterly basis and from $0.36 to $0.72 per share
of common stock on an annual basis. The new dividend rate will be
applicable immediately.
"Doubling our dividend reflects our continued confidence in Celanese's
strategic direction and our ability to generate cash to support our
long-term growth objectives," said Mark Rohr, chairman and chief
executive officer. "We will continue to pursue a balanced cash
deployment strategy, including dividends, share repurchases and debt
reduction, while investing in growth initiatives that should generate
strong returns for our shareholders."
The company also declared a quarterly cash dividend of $0.18 per share
on its Series A common stock, payable on August 15, 2013.
The dividend is payable for the period beginning May 1, 2013 and ending
on and including July 31, 2013 to stockholders of record as of August 5,
2013.
About Celanese
Celanese Corporation is a global technology leader in the production
of differentiated chemistry solutions and specialty materials used in
most major industries and consumer applications. With sales almost
equally divided between North America, Europe and Asia, the company uses
the full breadth of its global chemistry, technology and business
expertise to create value for customers and the corporation. Celanese
partners with customers to solve their most critical needs while making
a positive impact on its communities and the world. Based in Dallas,
Texas, Celanese employs approximately 7,600 employees worldwide and had
2012 net sales of $6.4 billion. For more information about Celanese
Corporation and its product offerings, visit www.celanese.com
or our blog at www.celaneseblog.com.
Forward-Looking Statements
This release may contain “forward-looking statements,” which include
information concerning the company's plans, objectives, goals,
strategies, future revenues or performance and other information that is
not historical information. When used in this release, the words “will,”
“intends,” “expects,” “estimates,” “anticipates,” “projects,” “plans,”
“believes,” and variations of such words or similar expressions are
intended to identify forward-looking statements. All forward-looking
statements are based upon current expectations and beliefs and various
assumptions. There can be no assurance that the company will realize
these expectations or that these beliefs will prove correct. The
company's ability to realize these expectations is subject to numerous
factors and contingencies, many of which are beyond the company's
control. These include local and national economic, credit and
capital market conditions, including prevailing interest rates; legal
and regulatory developments, including changes to tax rates, applicable
securities regulations or accounting standards; and geopolitical
conditions, including the occurrence of acts of war or terrorist
incidents or natural disasters. Any of these factors or others
not named herein could cause the company's actual results to differ
materially from those expressed as forward-looking statements. In
addition, other risk factors that could cause actual results to differ
materially from the forward-looking statements contained in this release
include those that are discussed in the company's filings with the
Securities and Exchange Commission. Any forward-looking statement speaks
only as of the date on which it is made, and the company undertakes no
obligation to update any forward-looking statements to reflect events or
circumstances after the date on which it is made or to reflect the
occurrence of anticipated or unanticipated events or circumstances.
Copyright Business Wire 2013