Celanese Corporation’s CEboard has approved a 17% hike in its quarterly cash dividend to 54 cents per share from the prior payout of 46 cents. This translates into a dividend of $2.16 per share on an annualized basis, up from $1.84 per share. The revised dividend is effective immediately.
The move marks the ninth straight year of dividend hikes and reflects the company’s strong cash generation and its confidence in the growth prospects of its businesses.
Celanese continues to generate strong cash flows and remains focused on returning value to its shareholders. During 2017, the company returned $741 million to its shareholders, including $241 million in dividends and $500 million in share buybacks.
Celanese has outperformed the industryin a year’s time. While shares of the company have rallied around 24.5%, the industry gained roughly 14.1% over the same period.