Trinseo Announces Quarterly Dividend of $0.14 Per Share
February 23 2023 - 3:20PM
Business Wire
Trinseo (NYSE: TSE), a specialty material solutions provider,
today announced that its Board of Directors authorized a quarterly
dividend of $0.14 per share, which represents a 56% reduction from
the current quarterly dividend of $0.32 per share.
“We remain committed to creating long-term value for our
shareholders while maintaining a strong financial position. We
believe taking the prudent decision to reduce the dividend will
preserve liquidity and enable us to continue to invest in growth
and sustainability projects through these challenging macroeconomic
conditions,” said Frank Bozich, Trinseo’s President and Chief
Executive Officer.
The dividend will be a cash distribution payable on April 20,
2023, to shareholders of record as of the close of business on
April 6, 2023.
About Trinseo
Trinseo (NYSE: TSE), a specialty material solutions provider,
partners with companies to bring ideas to life in an imaginative,
smart and sustainably focused manner by combining its premier
expertise, forward-looking innovations and best-in-class materials
to unlock value for companies and consumers.
From design to manufacturing, Trinseo taps into decades of
experience in diverse material solutions to address customers’
unique challenges in a wide range of industries, including building
and construction, consumer goods, medical and mobility.
Trinseo’s approximately 3,400 employees bring endless creativity
to reimagining the possibilities with clients all over the world
from the company’s locations in North America, Europe and Asia
Pacific. Trinseo reported net sales of approximately $5.0 billion
in 2022. Discover more by visiting www.trinseo.com and connecting
with Trinseo on LinkedIn, Twitter, Facebook and WeChat.
Cautionary Note on Forward-Looking Statements
This press release may contain forward-looking statements
including, without limitation, statements concerning plans,
objectives, goals, projections, forecasts, strategies, future
events or performance, and underlying assumptions and other
statements, which are not statements of historical facts or
guarantees or assurances of future performance. Forward-looking
statements may be identified by the use of words like "expect,"
"anticipate," “believe,” "intend," "forecast," "outlook," "will,"
"may," "might," "see," "tend," "assume," "potential," "likely,"
"target," "plan," "contemplate," "seek," "attempt," "should,"
"could," "would" or expressions of similar meaning. Forward-looking
statements reflect management’s evaluation of information currently
available and are based on our current expectations and assumptions
regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, they are
subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Factors that might
cause future results to differ from those expressed by the
forward-looking statements include, but are not limited to, our
ability to successfully execute our business and transformation
strategy; increased costs or disruption in the supply of raw
materials; increased energy costs; our ability to successfully
generate cost savings and increase profitability through asset
restructuring initiatives; compliance with laws and regulations
impacting our business; conditions in the global economy and
capital markets; and those discussed in our Annual Report on Form
10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our
other reports, filings and furnishings made with the U.S.
Securities and Exchange Commission from time to time. As a result
of these or other factors, our actual results, performance or
achievements may differ materially from those contemplated by the
forward-looking statements. Therefore, we caution you against
relying on any of these forward-looking statements. The
forward-looking statements included in this press release are made
only as of the date hereof. We undertake no obligation to publicly
update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230223005838/en/
Trinseo Andy Myers Tel: +1 610-240-3221 Email:
aemyers@trinseo.com
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