Published:
Ashland Inc. Board Declares Quarterly Dividend at Reduced Level
COVINGTON, Ky., Nov. 20 /PRNewswire-FirstCall/ -- The board of directors
of Ashland Inc. (NYSE: ASH) today declared a quarterly cash dividend of 7.5
cents per share, payable Dec. 15, 2008, to shareholders of record at the close
of business on Dec. 1, 2008. This is reduced from the previous quarterly
dividend of 27.5 cents per share and the annual dividend of $1.10 per share.
"This change in the dividend is the result of both strategic and tactical
considerations," said James J. O'Brien,Ashland chairman and chief executive
officer. "The board has chosen to set the dividend at a yield that is
currently more consistent with the specialty chemical sector. The new dividend
amount also enablesAshland to conserve cash through the trough of the
economic cycle and creates additional financial flexibility, while still
providing shareholders a dividend at a level typical of our peers."
Ashland will host a conference call today at 9:15 a.m. (EST) to discuss
this press release. In attendance at the call will be: James J. O'Brien,
chairman and chief executive officer; and Eric N. Boni, director, investor
relations. The call-in number is: 1-866-788-0540 and the international
call-in number is: 1-857-350-1678. The participant passcode is: 25187032.
Ashland Inc. (NYSE: ASH) provides specialty chemical products, services
and solutions for many of the world's most essential needs and industries.
Serving customers in more than 100 countries, it operates through five
commercial units: Ashland Hercules Water Technologies, Ashland Performance
Materials, Ashland Aqualon Functional Ingredients, Ashland Consumer Markets
(Valvoline) and Ashland Distribution. To learn more aboutAshland, visit
www.ashland.com .
SOURCE Ashland Inc.
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
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