MIAMI--(BUSINESS WIRE)--Element Solutions Inc (NYSE: ESI) announced today that its board has declared an initial quarterly cash dividend of $0.05 per share of the company's common stock. The declared dividend will be paid on December 15, 2020 to stockholders of record as of the close of business on November 25, 2020.
Chief Executive Officer Benjamin Gliklich commented, “Element Solutions’ ability and decision to initiate a dividend in 2020 of all years is a testament to the quality and resilience of its business model and its cash flows. Our business has consistently generated significantly more cash flow, in all market environments, than it requires internally. This dividend will not materially impact our ability to continue to deploy capital to compound cash flow per share, and we fully expect to grow it along with that cash flow.”
About Element Solutions Inc
Element Solutions Inc is a leading specialty chemicals company whose businesses formulate a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, our businesses’ innovative solutions enable customers' manufacturing processes in several key industries, including electronic circuitry, semiconductor, communication infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy. More information about the company is available at www.elementsolutionsinc.com.
This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the payment of quarterly cash dividends in the future, cash flow generation, the impact of this dividend on the company’s ability to continue to deploy capital to compound cash flow per share and growth expectations for cash flow and cash flow per share. These statements are based on management's estimates and assumptions with respect to future events, and are believed to be reasonable, though are inherently difficult to predict. Actual results could differ materially from those projected as a result of certain factors including, without limitation, factors contained in the company’s periodic and other reports filed or to be filed with the Securities and Exchange Commission. Element Solutions undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.