Stepan Company Buyback
OLI recorded this information on 10/20/2021
Stepan Company (NYSE:SCL) today reported: On October 19, 2021, the Board of Directors of Stepan Company approved an increase of $0.030 per share, or 9.8%, on its quarterly cash dividend on its common stock. The dividend of $0.335 per share is payable on December 15, 2021, to common stockholders of record on November 30, 2021. The increase marks the 54th consecutive year in which the quarterly dividend rate on the Company's common stock has increased. In addition, the Board of Directors of the Company authorized the Company to repurchase up to $150,000,000 of its common stock.
Stepan is engaged in the production and sale of specialty and intermediate chemicals, which are sold to other manufacturers for use in a variety of end products. Co. has three reportable segments: Surfactants, which are used in a variety of consumer and industrial cleaning compounds as well as in agricultural products, lubricating ingredients, oil field chemicals and other applications; Polymers, which are used primarily in plastics, building materials, refrigeration systems and coatings, adhesives, sealants and elastomers applications; and Specialty Products, which are used in food, flavoring, nutritional supplement and pharmaceutical applications.
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Buy (2.67 out of 4)