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Dow Chemical posts profit, raises dividend, expands stock buyback

Wednesday, 29 Jan 2014 | 7:07 AM ET

Jan 29 (Reuters) - Dow Chemical Co raised its dividend 15 percent and expanded its share buyback program to $4.5 billion from $1.5 billion after posting a fourth-quarter profit.

Net income available for common stockholders was $963 million, or 79 cents per share, in the quarter ended Dec. 31.

Dow Chemical posted a loss of $716 million, or 61 cents per share, in the year-ago quarter due to a $990 million charge related to job cuts, plant closures and write down of the value of its lithium-ion battery business.

Revenue rose 3 percent to $14.39 billion at the largest U.S. chemical maker by sales.

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