BERWYN, PA — Trinseo (NYSE: TSE) announced that its Board of Directors authorized a dividend of $0.32 per share, an increase of four times the amount of the most recent dividend.
In December 2020, Trinseo announced a dividend reduction to enable rapid near-term deleveraging following the acquisition of the PMMA business. Taking into account the Company’s previously announced expectation of a net leverage ratio in the low-2x range by the end of this year, the Board approved today’s increase. The dividend will be a cash distribution payable on October 7, 2021, to shareholders of record as of the close of business on October 1, 2021.
Commenting on the Company’s quarterly dividend increase, Frank Bozich, President and Chief Executive Officer of Trinseo, said, “The dividend increase reflects the high level of confidence we have in our future business performance and cash generation. We view returning cash to shareholders as an important part of our capital allocation as we continue our transformation to becoming a specialty materials and sustainable solutions provider.”
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