Discover May's biggest dividend increases in the materials sector
Dividends
June 10, 2023
Ashland Inc. has authorized a stock buyback program as part of its commitment to delivering shareholder value and disciplined capital allocation. The board of directors declared a quarterly cash dividend of $0.385 cents per share, reflecting a 15 percent increase from the previous quarter, highlighting Ashland's dedication to consistent dividend growth. Ashland aims to maintain an annual dividend payout ratio of around 30 percent of adjusted income from continuing operations. In addition to the dividend increase, Ashland plans to repurchase up to $100 million of its outstanding shares under a new 10b5-1 trading plan agreement. This stock buyback program, expected to be completed in the June 2023 fiscal quarter, demonstrates the board's confidence in Ashland's ability to generate earnings and cash flow over time. Ashland has a strong financial position, allowing for investments in key strategies, growth initiatives, and capital returns to shareholders. Ashland has already returned approximately $950 million to its shareholders in the past three years, underscoring its commitment to delivering long-term, profitable growth and enhancing shareholder value.
Innospec Inc. (NASDAQ: IOSP) released its financial results for the first quarter of 2023, reporting a revenue increase of 8 percent to $509.6 million compared to the same period last year. Despite a slight decrease in net income to $33.2 million or $1.33 per diluted share, Innospec remains optimistic about technology and sustainability-driven growth opportunities. Innospec's strong cash position of $147.5 million enables it to fund organic ventures, pursue complementary mergers and acquisitions, and maintain its commitment to shareholder value through a 10 percent increase in the semi-annual dividend to 69 cents per share.
Materion Corporation (MTRN) recently declared its first-quarter 2023 dividend of $0.13 per share, representing a 5% increase of $0.005 per share. This dividend is set to be paid on June 15, 2023, to shareholders of record as of May 31, 2023. Materion's decision to authorize a stock buyback underscores its confidence in its future prospects and its commitment to enhancing shareholder value. The buyback amount and specific reasons behind the authorization were not mentioned in the provided information.
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