MIDLAND, Mich. - Dow (NYSE: DOW), a leading materials science company, has declared a quarterly dividend of 70 cents per share. The dividend is payable on September 13, 2024, to shareholders who are on record as of August 30, 2024. This recent announcement continues Dow's long-standing tradition of rewarding its shareholders, marking the 452nd consecutive dividend issued since 1912.
Dow is recognized globally for its focus on high-growth markets such as packaging, infrastructure, mobility, and consumer applications. With a workforce of approximately 35,900 people across 31 countries, Dow reported sales of around $45 billion in 2023, reflecting its extensive reach and scale in the materials science sector.
The company's commitment to innovation and sustainability is central to its business strategy, aiming to deliver profitable growth while contributing to a sustainable future. Dow's operations and integrated assets are designed to meet the dynamic needs of its customers and to maintain its position at the forefront of the industry.
As with all forward-looking statements, Dow's dividend declaration is subject to various risks and uncertainties, including changes in market conditions, fluctuations in raw material prices, and other factors that could impact the company's financial performance. Such statements are based on current assumptions and management's expectations of future events, and while believed to be reasonable, there is no guarantee that the anticipated financial outcomes will be achieved.
This dividend announcement is based on a press release statement from Dow, and it reflects the company's ongoing efforts to provide value to its shareholders. As always, investors are encouraged to consider the full range of risks and uncertainties that may affect the company's future results when making investment decisions.
The declaration of the dividend is a testament to Dow's consistent financial performance and its ability to generate shareholder value through its century-long history of dividend payments.
InvestingPro Insights
Dow (NYSE: DOW), a stalwart in the materials science arena, not only maintains a legacy of consistent dividend payments but also shows a promising outlook according to recent data and analysis. With a market capitalization of $37.04 billion, Dow's commitment to shareholder returns is further underscored by a significant dividend yield of 5.31% as of the last recorded date. This yield is particularly attractive in the current market, reflecting the company's strategy to deliver consistent shareholder value.
InvestingPro Tips reveal that management's aggressive share buyback strategy and the expectation of net income growth this year are positive signals for investors. Additionally, while 16 analysts have revised their earnings estimates downwards for the upcoming period, Dow is still trading at an earnings multiple of 21.85 on a last twelve months basis as of Q2 2024, which could indicate that the market has confidence in the company's future earnings potential. Notably, Dow is a prominent player in the Chemicals industry and is predicted to remain profitable this year, having been profitable over the last twelve months.
From a financial performance perspective, Dow's revenue for the last twelve months as of Q2 2024 stands at $43.03 billion, despite a revenue decline of 12.62%. The company's gross profit margin during the same period is 11.78%, which, while reflecting weak gross profit margins as per one of the InvestingPro Tips, still demonstrates Dow's ability to maintain profitability in a challenging market environment.
For investors seeking additional insights, there are more InvestingPro Tips available, providing a comprehensive analysis of Dow's financial health and market performance. With a robust dividend history and a strategy focused on innovation and sustainability, Dow continues to be a company worth watching in the materials science sector.
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