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Celanese Corporation Announces 20 Percent Dividend Increase; Increases Share Repurchase Plan
Friday 29. April 2011 - Celanese Corporation (NYSE:CE), a global technology and specialty materials company, today announced that its board of directors has approved a 20 percent increase in the companys quarterly common stock cash dividend. The dividend rate increased from $0.05 to $0.06 per share of common stock on a quarterly basis and from $0.20 to $0.24 per share of common stock on an annual basis. The new dividend rate will be applicable to dividends payable beginning in August 2011.
The company also announced that its board of directors has approved an increase in its existing share repurchase authorization to a total of $200 million of its Series A common stock. As of March 31, 2011, the company had $71 million remaining under its previously announced plan that authorized up to $500 million. The authorization gives management discretion in determining the timing and conditions under which shares may be repurchased.