WILMINGTON, Del. - Ashland Inc . (NYSE: NYSE:ASH), a global additives and specialty ingredients company, announced a five percent increase in its quarterly cash dividend. The dividend, set at $0.405 per share, is payable on June 15, 2024, to shareholders of record as of June 1, 2024. This decision by the board of directors reflects a positive adjustment from the previous quarter's dividend.
As of the end of April, Ashland reported having 50,128,349 shares of common stock outstanding. The company operates across various consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceutical sectors. Ashland is known for its focus on developing solutions to complex problems and its commitment to environmental, social, and governance (ESG) principles.
The increase in dividend payout is a sign of Ashland's financial health and its ability to generate sufficient cash flow. Dividends are often used as a signal to the market about a company's performance and prospects. In this case, Ashland's decision to raise its dividend may be interpreted as a message of confidence in its ongoing financial stability and future earnings potential.
The company's dedication to innovation and ESG is also a prominent aspect of its operations, as it strives to address the needs of customers in over 100 countries with a team of approximately 3,800 employees.
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