WILMINGTON, Del., July 13, 2017 /PRNewswire/ -- DuPont
declared a third quarter common stock dividend of 38 cents per share payable September 29, 2017, to stockholders of record
July 31, 2017. Since the companies
expect the merger to close between August 1
and September 1, Dow and DuPont have coordinated with
respect to their respective third quarter common stock dividend
record and payment dates, as required by the Merger Agreement. This
is the 452nd consecutive quarterly dividend since the
company's first dividend in the fourth quarter of 1904.
Regular quarterly dividends of $1.12-1/2 per share on the $4.50 series preferred stock and $0.87-1/2 cents per share on the $3.50 series preferred stock also were declared,
both payable October 25, 2017, to stockholders of record
October 10, 2017.
DuPont (NYSE: DD) has been bringing world-class science and
engineering to the global marketplace in the form of innovative
products, materials and services since 1802. The company believes
that by collaborating with customers, governments, NGOs, and
thought leaders we can help find solutions to such global
challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its
commitment to inclusive innovation, please visit
www.dupont.com.
Merger of Equals
On December 11, 2015, DuPont and The
Dow Chemical Company ("Dow") announced entry into an Agreement and
Plan of Merger, as amended on March 31,
2017 and as may be amended from time to time in accordance
with its terms, (the "Merger Agreement") under which the companies
will combine in an all-stock merger (the "Merger Transaction"),
subject to satisfaction of closing conditions, including receipt of
regulatory approval. Dow and DuPont have obtained conditional
approval for the Merger Transaction from the antitrust regulatory
authorities in the United States,
Brazil, Canada and China, among others. The conditional approvals
were granted based on the companies fulfilling their commitments to
divest certain assets, among other conditions, (the "Conditional
Commitments"). In connection with the Conditional Commitments,
DuPont entered into a definitive agreement (the "FMC Transaction
Agreement") with FMC Corporation (FMC). Under the FMC Transaction
Agreement subject to the closing of the Merger Transaction in
addition to customary closing conditions, including regulatory
approval, FMC will acquire certain Crop Protection business and
R&D assets from DuPont and DuPont has agreed to acquire certain
assets relating to FMC's Health and Nutrition segment,
(collectively, the "FMC Transactions"). The combined company will
be DowDuPont Inc. DuPont and Dow intend, following consummation of
the Merger Transaction, that DowDuPont Inc. will pursue, subject to
the receipt of approval by the board of directors of DowDuPont, the
separation of the combined company's agriculture business,
specialty products business, and materials science business through
a series of tax-efficient transactions (collectively, the "Intended
Business Separations"). For more information, please see DuPont's
latest annual, quarterly and current reports on Forms 10-K, 10-Q
and 8-K, as well as the joint proxy/prospectus included in the
DowDuPont Registration Statement on Form S-4 filed in connection
with the Merger Transaction.
Forward-Looking Statements
This document contains
forward-looking statements which may be identified by their use of
words like "plans," "expects," "will," "believes," "intends,"
"estimates," "anticipates" or other words of similar meaning. All
statements that address expectations or projections about the
future, including statements about the company's strategy for
growth, product development, regulatory approval, market position,
anticipated benefits of recent acquisitions, timing of anticipated
benefits from restructuring actions, outcome of contingencies, such
as litigation and environmental matters, expenditures, financial
results and timing of, as well as expected benefits, including
synergies, from proposed merger with Dow and intended post-merger
separations, are forward-looking statements. These and other
forward-looking statements, including the failure to consummate the
Merger Transaction, the FMC Transactions or the Conditional
Commitments, to make or take any filing or other action required to
consummate such transactions in a timely manner or at all, are not
guarantees of future results and are subject to risks,
uncertainties and assumptions that could cause actual results to
differ materially from those expressed in any forward-looking
statements. Forward-looking statements are not guarantees of future
performance and are based on certain assumptions and expectations
of future events which may not be realized. Forward-looking
statements also involve risks and uncertainties, many of which are
beyond the company's control. Some of the important factors that
could cause the company's actual results to differ materially from
those projected in any such forward-looking statements are:
fluctuations in energy and raw material prices; failure to develop
and market new products and optimally manage product life cycles;
ability to respond to market acceptance, rules, regulations and
policies affecting products based on biotechnology and, in general,
for products for the agriculture industry; outcome of significant
litigation and environmental matters, including realization of
associated indemnification assets, if any; failure to appropriately
manage process safety and product stewardship issues; changes in
laws and regulations or political conditions; global economic and
capital markets conditions, such as inflation, interest and
currency exchange rates; business or supply disruptions; security
threats, such as acts of sabotage, terrorism or war, natural
disasters and weather events and patterns which could affect demand
as well as availability of products for the agriculture industry;
ability to protect and enforce the company's intellectual property
rights; successful integration of acquired businesses and
separation of underperforming or non-strategic assets or
businesses; and risks related to the Merger Transaction, the FMC
Transactions and the Conditional Commitments. These risks, as well
as other risks associated with the Merger Transaction, the FMC
Transactions and the Conditional Commitments, are or will be more
fully discussed in (1) DuPont's most recently filed Form 10-K, 10-Q
and 8-K reports, (2) DuPont's subsequently filed Form 10-K and 10-Q
reports and (3) the joint proxy statement/prospectus included in
the Registration Statement filed with the SEC about the Merger
Transaction. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
Consequences of material differences in results as compared with
those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems,
monetary loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on DuPont's
consolidated financial condition, results of operations, credit
rating or liquidity. The company assumes no obligation to publicly
provide revisions or updates to any forward-looking statements,
whether because of new information, future developments or
otherwise, should circumstances change, except as otherwise
required by securities and other applicable laws.
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SOURCE DuPont