COLUMBIA, Md., Feb. 08, 2018 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA) announced today that its Board of Directors has approved a 14 percent increase in the company's regular annual cash dividend from $0.84 to $0.96 per common share. The increase will be effective with the first quarter dividend of $0.24 per common share, and is payable on March 22, 2018 to shareholders of record at the close of business on March 1, 2018.
"Grace remains committed to growing our dividend as part of our disciplined capital allocation strategy," said Fred Festa, Grace’s Chairman and Chief Executive Officer. "In addition to continuing to increase our dividend, we remain committed to deploying our capital to increase shareholder value. To this end, during 2017 we committed approximately $420 million to acquisitions and over $140 million to capital investments. We also returned over $120 million to shareholders through share repurchases and dividends. We remain confident in our ability to generate strong free cash flow and drive superior performance 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 3,700 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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Source:W. R. Grace & Co.