Grace Announces Increased Quarterly Dividend
Source: Nasdaq GlobeNewswire / 07 Feb 2019 06:01:32 America/New_York
COLUMBIA, Md., Feb. 07, 2019 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA) today announced that it has declared a quarterly cash dividend of $0.27 per common share. The dividend, payable on March 21, 2019 to shareholders of record at the close of business on February 28, 2019, reflects approval by the Board of Directors of a 12.5 percent increase in the company's regular annual cash dividend from $0.96 to $1.08 per common share.
"Grace remains committed to growing our dividend as part of our disciplined capital allocation strategy," said Hudson La Force, Grace’s President and Chief Executive Officer. "In addition to increasing our dividend for 2019, we expect to invest over $200 million in high return growth and operating excellence investments. In 2018, we returned $145 million to shareholders through dividends and share repurchases. We remain confident in our ability to generate strong free cash flow over the long term."
The declaration of any dividends falls within the discretion of the Board, taking into account such considerations as the Board may deem relevant at the time including, without limitation, the company's financial condition, financial performance, available liquidity, and applicable legal requirements.
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 3,900 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
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