Huntsman Corporation announced that its board of directors declared a $0.2125 per share cash dividend on its common stock. This represents a 13% increase from the previous dividend. The dividend is payable on March 31, 2022, to stockholders of record as of March 15, 2022.
Commenting on the Board’s action, Peter Huntsman, Chairman of the Board, President, and CEO, said: “Given our business results and outlook, the Board of Directors will continue to ensure that we remain competitive in how we return value to our shareholders.
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Huntsman appoints David Sewell to Board of Directors
Huntsman Corporation has appointed David B. Sewell to its Board of Directors. Mr. Sewell currently serves as Chief Executive Officer of WestRock Company, was the Chief Operating Officer of The Sherwin-Williams Company, and brings nearly 15 years of senior leadership and operational experience at major materials companies to the Huntsman Board. The announcement brings Huntsman’s multi-year Board director succession plan closer to completion and follows the announcement of several recent strategic actions the Company has taken to support the financial and operational objectives it outlined at its November Investor Day.
“Since Investor Day when we announced ambitious new financial targets, our Board has continued to oversee a series of significant initiatives to achieve those objectives,” said Peter R. Huntsman, Chairman, President, and CEO.
“As part of a comprehensive strategy to enhance shareholder value, we have launched a strategic review of the Textile Effects Division to advance our focus on portfolio enhancement and implemented an incentive compensation program for all Huntsman officers and vice presidents to closely align their interests with the realization of the Investor Day targets, including margin expansion, cost optimization, and cash flow delivery.”
Huntsman continued, “We are pleased to welcome David to the Huntsman Board. He is a proven operator in the materials and chemicals industries with a strong track record of driving successful integration and cost reduction initiatives and profitable growth. We look forward to working closely with him and the rest of our Board to build on our strong momentum.”
Sewell said, “I am excited to join the Huntsman Board and start working with my fellow directors and the Company’s management team. This board brings tremendous expertise to Huntsman, and I look forward to participating fully as we take further steps together to strengthen the Company’s competitive position and unlock additional value for shareholders.
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With the changes announced in the last month, eight new independent directors will have been appointed since 2018, and four directors will be transitioning off the Board at the 2022 Annual Meeting.
