February 15, 2013 at 09:53 AM EST
Dow Chemical Announces $1.5 Billion Share Repurchase Plan (DOW)

On Friday, The Dow Chemical Company (DOW) announced that its board has approved a $1.5 billion share repurchase program.

DOW also said that the share buyback plan may be made over time in the open market or in privately negotiated transactions. For more on company share buyback plans, check out Dividends vs. Share Buybacks: It’s a No Brainer.

“This repurchase program underscores the board’s confidence in Dow’s earnings, cash flow and growth potential as we continue executing against our strategic agenda, and illustrates our ongoing commitment to increasingly reward shareholders,” said Andrew N. Liveris, Dow’s CEO. “Going forward, our three priorities for uses of cash will remain consistent: further deleveraging, returning value to our shareholders and investing for attractive, high-margin organic growth in our downstream businesses.”

Dow Chemical shares were up slightly during morning trading on Friday. The stock is down about -3% over the past year.

The Bottom Line
Shares of Dow Chemical (DOW) have a dividend yield of 3.91% based on Friday’s intraday trading price of $32.72 and the company’s annualized dividend payout of $1.28 per share.

The Dow Chemical Company (DOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here