Cabot Corporation Board Increases Dividend
OREANDA-NEWS. On Monday, May 23, 2016, the Board of Directors of Cabot Corporation (NYSE:CBT) increased the quarterly dividend on the Company’s common stock to $0.30 per share from $0.22 per share, representing a 36 percent increase. The dividend is payable on June 10, 2016 to shareholders of record at the close of business on May 27, 2016.
“Cabot has paid dividends for 48 consecutive years, since becoming a public company in 1968. We are pleased to demonstrate our commitment to returning cash to our shareholders and extending this long-term track record by raising our dividend,” said Sean Keohane, president and chief executive officer of Cabot. “The Board’s decision to increase the dividend reflects the continued financial strength of the Company and our confidence in the future cash flows,” Keohane added.
On an annualized basis, the new dividend rate is $1.20 per share versus $0.88 per share, previously.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, and aerogel. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.