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Eastman Chemical Co. on Thursday declared a quarterly cash dividend of 47 cents and announced a $300 million share repurchase plan.

The company plans to pay the dividend April 1 to shareholders of record as of March 15.

The $300 million in share repurchases that Eastman's board has approved come on top of what's left under a separate $300 million buyback plan authorized in August.

The company said the moves reflect its confidence in its strong financial position and commitment to returning cash to shareholders.

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