Celanese Corporation Increases Dividend 17 Percent and Declares Quarterly Dividend
Executes the Second of Three Annual Steps to Increase Dividends by
at Least 50 Percent Over a Three-Year Period
DALLAS–(BUSINESS WIRE)–Celanese Corporation (NYSE:CE), a global technology and specialty
materials company, today announced that its board of directors has
approved a 17 percent increase in the company's quarterly common stock
cash dividend.
The dividend increased from $0.46 to $0.54 per share of common stock on
a quarterly basis and from $1.84 to $2.16 per share of common stock on
an annual basis. The new dividend rate will be effective immediately.
“Increasing our dividend consistently is a key element of our strategy
to maximize long-term value for our shareholders. Today’s announcement
marks the ninth consecutive year of dividend increases, and is both a
reflection of our strong cash generation and confidence in the growth
prospects for our business. During that period, the cash we have
returned to shareholders through dividends has grown substantially to
$241 million in 2017, versus $23 million in 2009,” said Mark Rohr,
Chairman and Chief Executive Officer.
Rohr continued, “Last year, we committed to increasing our dividend by
at least 50% over the three-year period through 2019 with a targeted
payout of $300 million or more in 2019. This increase is the second of
three annual steps to meet that goal.”
The company also declared a quarterly cash dividend of $0.54 per share
on its Series A common stock, payable on May 10, 2018 to stockholders of
record as of April 30, 2018.
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. Our businesses use the
full breadth of Celanese's global chemistry, technology and commercial
expertise to create value for our customers, employees, shareholders and
the corporation. As we partner with our customers to solve their most
critical business needs, we strive to make a positive impact on our
communities and the world through The Celanese Foundation. Based in
Dallas, Celanese employs approximately 7,700 employees worldwide and had
2017 net sales of $6.1 billion. For more information about Celanese
Corporation and its product offerings, visit www.celanese.com or
our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International
Corporation or its affiliates.
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, capital expenditures and
other information that is not historical information. When used in this
release, the words “outlook,” “forecast,” “estimates,” “expects,”
“anticipates,” “projects,” “plans,” “intends,” “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 or its customers will realize these
benefits or that these expectations will prove correct. There are a
number of risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements contained in this
release. Numerous factors, many of which are beyond the company’s
control, could cause actual results to differ materially from those
expressed as forward-looking statements. Other risk factors 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.
Contacts
Celanese Corporation
Investor Relations
Surabhi
Varshney, +1-972-443-3078
[email protected]
or
Media
Relations – Global
W. Travis Jacobsen, +1-972-443-3750
[email protected]
or
Media
Relations Asia (Shanghai)
Helen Zhang, +86 21 3861 9279
[email protected]
or
Media
Relations Europe (Germany)
Jens Kurth, +49(0)69 45009 1574
[email protected]