Home / Knowledge / News / Textiles / Eastman declares quarterly dividend of $0.40/share
Eastman declares quarterly dividend of $0.40/share
09
Dec '14
Producer of speciality chemicals and NYSE listed, Eastman, has announced that the Company’s Board of Directors has approved a quarterly dividend for holders of the Company’s common shares in the amount of $0.40 per common share, with an increase of 14 per cent. The dividend will be paid on January 2, 2015 to shareholders of record at the close of business on December 15, 2014.

Curt Espeland, executive vice president and chief financial officer for Eastman said, “This increase marks the fifth consecutive year that we have increased the dividend. This is consistent with our commitment to grow our dividend as the company grows, and to deploy capital in a balanced and disciplined way. It is also further demonstration of the Board’s confidence in Eastman to continue generating earnings growth and strong free cash flows.”

Earlier, the company said it expects to deliver greater than 12 per cent EPS growth from strong organic growth. Eastman also expects to generate more than $3 billion in free cash flow from 2015 to 2017, with return-on-invested capital (ROIC) of 12 to 15 per cent.

Reported earnings in the third quarter of 2014 stood at $1.39 per diluted share versus $1.97 per diluted share for third quarter of 2013. In the reporting quarter, Eastman Chemical sales amounted to $2.4 billion, up 3 per cent from the comparable quarter of 2013.

Third-quarter of 2014 reported operating earnings totaled to $338 million, down 29.46 per cent compared with $479 million for third quarter of 2013. Eastman generated $560 million in cash from operating activities during third quarter of 2014, driven by strong earnings and also reduced commercial paper borrowings by $211 million.

Eastman has operations in approximately 100 countries and had 2013 revenues of $9.4 billion. Headquartered in Tennessee, USA, Eastman employs around 14,000 people around the world. (GK)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search