Celanese hikes dividend by 2.9%

On October 19, 2022, Celanese Corp (CE) announced that it will raise its quarterly dividend by 2.9 percent to $0.70 per share. However this marks the 13th consecutive year of dividend increases by the specialty materials company based on total dividends paid in each calendar year.

The next dividend is payable on November 14, 2022 to stockholders of record as of October 31, 2022. The new dividend yield for CE is 3.0% at a stock price of $93.10.

“We have a decade-long history, which our shareholders value, of annual growth in the dividends paid per share across each year,” said Lori Ryerkerk, chairman and chief executive officer. “On a full year basis, this increase in the quarterly dividend represents an additional cash commitment of less than $10 million on current shares outstanding. This increase in the quarterly dividend is consistent with what was contemplated in the deleveraging plan which we outlined when we announced the acquisition of Mobility & Materials.”

Celanese Corporation is a technology company specialized in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. It's segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. Celanese has operations in North America, Europe and Asia. Celanese Corporation has paid a dividend to shareholders every year since 2005.