THE WOODLANDS, Texas - Huntsman Corporation (NYSE: NYSE:HUN), a global chemical manufacturer, has declared a $0.25 per share cash dividend for its common stock, marking a 5% increase from its prior dividend. The dividend is set to be paid on March 29, 2024, to shareholders recorded as of March 15, 2024.
In addition to the dividend increase, the company has scheduled its 2024 Annual Meeting of Stockholders for May 2, 2024. The meeting will be held virtually at 9:00 a.m. Central Time, and stockholders of record by the close of business on March 7, 2024, will be eligible to vote.
Huntsman Corporation, with revenues of approximately $6 billion in 2023, specializes in differentiated and specialty chemicals. The company's products are utilized across various consumer and industrial markets. Huntsman operates over 60 facilities in around 25 countries and employs roughly 6,000 associates in its ongoing operations.
This announcement comes as part of the company's regular communications to shareholders and the market, providing updates on its financial distributions and corporate governance events. The information is based on a press release statement from Huntsman Corporation.
InvestingPro Insights
Huntsman Corporation (NYSE: HUN) has shown a commitment to enhancing shareholder value through its recent dividend increase to $0.25 per share. This move is part of a broader strategy that has seen the company raise its dividend for three consecutive years. With a dividend yield of 3.91% as of the end of 2023, Huntsman stands out in the market for its high shareholder yield.
From a financial perspective, the company's market capitalization stands at $4.29 billion USD. Despite a challenging environment, as evidenced by a revenue decline of 25.07% in the last twelve months as of Q3 2023, Huntsman has maintained its dividend payments for an impressive 17 consecutive years, indicating a strong commitment to its shareholders. Furthermore, the company's management has been proactively buying back shares, signaling confidence in the company's value and future prospects.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available that provide a comprehensive look at Huntsman Corporation's financial health and future outlook. For instance, while analysts have revised their earnings expectations downwards for the upcoming period, they also predict the company will return to profitability this year. Potential investors are encouraged to explore these insights and consider the InvestingPro Tips available at: https://www.investing.com/pro/HUN. There are 11 additional tips listed in InvestingPro, which can be accessed with an exclusive 10% discount using the coupon code PRONEWS24 for a yearly or biyearly Pro and Pro+ subscription.
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