Dow Chemical Co Dow Announces $1.5 Billion Share Repurchase Program
February 15 2013 - 8:38AM
UK Regulatory
TIDMDOW
The Dow Chemical Company (NYSE: DOW) announced today that its
board of directors has approved a share buy-back program,
authorizing the repurchase of up to $1.5 billion of the Company's
common stock. Purchases under this program may be made over time in
open market or privately negotiated transactions.
"This repurchase program underscores the board's confidence in
Dow's earnings, cash flow and growth potential as we continue
executing against our strategic agenda, and illustrates our ongoing
commitment to increasingly reward shareholders," said Andrew N.
Liveris, Dow's chairman and chief executive officer. "Going
forward, our three priorities for uses of cash will remain
consistent: further deleveraging, returning value to our
shareholders and investing for attractive, high-margin organic
growth in our downstream businesses."
This represents the latest action in a series of measures Dow
has taken to increasingly reward shareholders. In 2012 the Company
reported a 34 percent increase in dividends declared per share
versus 2011.
About Dow
Dow (NYSE: DOW) combines the power of science and technology to
passionately innovate what is essential to human progress. The
Company connects chemistry and innovation with the principles of
sustainability to help address many of the world's most challenging
problems such as the need for clean water, renewable energy
generation and conservation, and increasing agricultural
productivity. Dow's diversified industry-leading portfolio of
specialty chemical, advanced materials, agrosciences and plastics
businesses delivers a broad range of technology-based products and
solutions to customers in approximately 160 countries and in high
growth sectors such as electronics, water, energy, coatings and
agriculture. In 2012, Dow had annual sales of $57 billion and
employed approximately 54,000 people worldwide. The Company's more
than 5,000 products are manufactured at 188 sites in 36 countries
across the globe. References to "Dow" or the "Company" mean The Dow
Chemical Company and its consolidated subsidiaries unless otherwise
expressly noted. More information about Dow can be found at
www.dow.com.
®TM Trademark of The Dow Chemical Company ("Dow") or an
affiliated company of Dow
For editorial information:The Dow Chemical CompanyRebecca
Bentley+1 (989) 638-8568rmbentley@dow.comorNancy Lamb+1 (989)
638-7251nelamb@dow.com
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