PolyOne Announces 33% Increase in Quarterly Dividend
CLEVELAND, Dec. 2, 2013 /PRNewswire-FirstCall/ -- The Board of Directors of PolyOne Corporation (NYSE: POL), has declared a dividend of eight cents ($0.08) per share on the common stock outstanding, representing a 33% increase to the quarterly cash dividend. The eight cent ($0.08) per share dividend will be paid on January 9, 2014, to shareholders of record on December 17, 2013. This represents the third increase to PolyOne's dividend and a doubling since the company re-instituted its quarterly cash dividend in March 2011 at $0.04 per share.
"We are pleased to announce an increase in our quarterly dividend. As a result of the relentless execution of our four pillar strategy, we have created a foundation for sustained growth," said Stephen D. Newlin, Chairman, President, and Chief Executive Officer. "During the third quarter of 2013, we increased adjusted earnings per share by 29%, our 16th consecutive quarter of double-digit EPS expansion.
Mr. Newlin added, "This dividend increase underscores our confidence and ability to meet our aggressive targets that will allow us to continue creating value for our shareholders. We remain committed to returning cash to shareholders through dividends and share repurchases."
PolyOne Corporation, with 2012 revenues of $2.9 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises Pledge(SM), PolyOne is committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles. For more information, visit www.polyone.com.
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SOURCE PolyOne Corporation