BOSTON--(BUSINESS WIRE)--On Wednesday, May 10, 2017, the Board of Directors of Cabot Corporation (NYSE:CBT) announced a quarterly dividend on the Company’s common stock of $0.315 per share payable on June 9, 2017 to shareholders of record at the close of business on May 26, 2017. This represents a 5 percent increase from the previous dividend.
“We are proud of our long history of returning cash to our shareholders through dividends and share repurchases, and remain committed to returning roughly half of our discretionary free cash flow to our shareholders,” said Sean Keohane, president and chief executive officer of Cabot. “The decision to increase the dividend demonstrates the Board’s confidence in our ability to generate strong cash flow and deliver an attractive total shareholder return, while still being able to make disciplined investments for sustainable growth."
On an annualized basis, the new dividend rate is $1.26 per share versus $1.20 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 rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, 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 are forward looking statements that involve 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.