BOSTON--(BUSINESS WIRE)--May 8, 2023--
On Friday, May 5, 2023, the Board of Directors of Cabot Corporation (NYSE: CBT) declared a quarterly dividend of $0.40 per share, an increase of 8% compared to the current quarterly dividend, on all outstanding shares of the Corporation’s common stock. The dividend is payable on June 9, 2023, to stockholders of record at the close of business on May 26, 2023.
“For over 50 years, we have consistently paid dividends, which reinforces our commitment to return capital to our shareholders,” said Sean Keohane, President and Chief Executive Officer of Cabot Corporation. “The dividend increase, our sixth in the last eight years, reflects our positive long-term view and the Board’s confidence in our ability to generate strong cash flows to fund high-growth investments and return cash to shareholders through a competitive dividend.”
On an annualized basis, the new dividend rate is $1.60 per share versus $1.48 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 reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides, 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, including statements concerning our expectation about our ability to generate cash flow to fund growth investments and return cash to shareholders through a competitive dividend are forward looking statements. Forward looking statements are not guarantees of future performance and are subject to 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