Eastman Increases Quarterly Dividend 15 Percent
KINGSPORT, Tenn. Dec. 6, 2012 - The Board of Directors of Eastman Chemical Company (NYSE: EMN) has increased the quarterly cash dividend by 15 percent to $0.30 per share on the company's common stock. The dividend is payable December 31, 2012, to stockholders of record as of December 17, 2012.
"This third cash dividend increase in two years demonstrates the Board's confidence in our ability to generate continued strong cash flows and earnings growth," said Jim Rogers, chairman and CEO. "We remain committed to maintaining a strong financial position as we execute our strategy to deliver consistent, superior value."
Forward-Looking Statements: This news release includes forward-looking statements concerning current expectations for future cash flows and earnings. Such expectations are based upon certain preliminary information, internal estimates, and management assumptions, expectations, and plans, and are subject to a number of risks and uncertainties inherent in projecting future conditions, events, and results. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations prove to be inaccurate or are unrealized. Important factors that could cause actual results to differ materially from such expectations are and will be detailed in the company's filings with the Securities and Exchange Commission, including the Form 10-Q filed for third quarter 2012 available on the Eastman web site at www.eastman.com in the Investors, SEC filings section.
Eastman is a global specialty chemicals company that produces a broad range of advanced materials, additives and functional products, specialty chemicals and fibers that are found in products people use every day. As a world leader in the diverse markets it serves, Eastman is focused on delivering innovative and technology-based solutions while maintaining its commitment to safety and sustainability. Serving customers in approximately 100 countries, Eastman had 2011 pro forma revenues, giving effect to the Solutia acquisition, of approximately $9.3 billion. The company is based in Kingsport, Tenn., and, with the completion of the Solutia acquisition, now employs approximately 13,500 people around the world. For more information, visit www.eastman.com.
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