BOSTON--(BUSINESS WIRE)--May 10, 2017--
On Wednesday, May 10, 2017, the Board of Directors of Cabot Corporation
(NYSE:CBT) announced a quarterly dividend on the Company’s common stock
of $0.315 per share payable on June 9, 2017 to shareholders of record at
the close of business on May 26, 2017. This represents a 5 percent
increase from the previous dividend.
“We are proud of our long history of returning cash to our shareholders
through dividends and share repurchases, and remain committed to
returning roughly half of our discretionary free cash flow to our
shareholders,” said Sean Keohane, president and chief executive officer
of Cabot. “The decision to increase the dividend demonstrates the
Board’s confidence in our ability to generate strong cash flow and
deliver an attractive total shareholder return, while still being able
to make disciplined investments for sustainable growth."
On an annualized basis, the new dividend rate is $1.26 per share versus
$1.20 per share, previously.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a
global specialty chemicals and performance materials company,
headquartered in Boston, Massachusetts. The company is a leading
provider of rubber
formate drilling fluids, fumed
silica, and aerogel.
For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: Statements in the press release regarding Cabot's business that
are not historical facts are forward looking statements that involve
risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward looking statements, see "Risk Factors" in the
Company's Annual Report on Form 10-K.
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Source: Cabot Corporation
Steve Delahunt, 617-342-6255