Stepan Company increases annual dividend by 14% to $1.28 The board also declared a two-for-pone stock split on its common stock in the form of a 100% stock dividend. The annual dividend rate after the split will be 64c per common share.
Stepan Company: North American Surfactant business challenged in Q3 North American Surfactant business continued to be challenged by lower commodity volumes which negatively impacted corporate results. The Polymer segment delivered solid earnings from strong North American polyol growth in both our traditional rigid foam insulation business and last year's polyester resin acquisition. The company said, "The announced Surfactant acquisition in Brazil has been approved by the anti-trust authorities. We anticipate the transaction will be completed early first quarter next year. We are resourcing projects to add polyol capacity in China, Poland and the United States. Our work on the previously announced formal program, using internal and external resources to improve efficiency across the Company, is advancing and should deliver meaningful results in 2015."
Stepan Company: The company has experienced a difficult 2014 The company said, "We recognize that our performance has been disappointing, but there are many projects underway which we expect will reduce our costs and aggressively build our sales. We look forward to improving Surfactant volumes and product mix and continuing to build on the momentum within our Polymer group."