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Celanese announces $0.70 dividend per share

EditorNatashya Angelica
Published 17/04/2024, 21:46
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DALLAS - Celanese Corporation (NYSE: NYSE:CE), a global player in the chemical and specialty materials industry, announced on Monday a quarterly cash dividend of $0.70 per share. The dividend is scheduled to be paid out on May 13, 2024, to shareholders who are on record as of April 29, 2024.

This announcement comes as part of the company's regular dividend distribution, which is a return of a portion of its earnings to shareholders. Dividends are a way for companies to share profits directly with their investors and can be indicative of a company's financial health and its board's confidence in future earnings.

Celanese has a diverse portfolio and operates in various sectors, providing specialty material solutions that are integral to numerous industries and consumer applications. The company has emphasized its commitment to sustainability and responsible management of its materials throughout their lifecycle. It also aims to expand its offerings of sustainable products to meet the growing demands of customers and society.

With a workforce of approximately 12,400 employees worldwide, Celanese is a Fortune 500 company and reported net sales of $10.9 billion in 2023. The company's focus on creating value for customers, employees, and shareholders has been a cornerstone of its strategy.

This financial move is expected to be of interest to current and potential investors as dividends are often seen as a reflection of a company's stability and commitment to its shareholders' interests. It also provides insight into the company's allocation of capital and its balance between investing in growth opportunities and rewarding shareholders.

The information regarding the dividend declaration is based on a press release statement from Celanese Corporation.

InvestingPro Insights

As Celanese Corporation (NYSE: CE) announces its latest dividend, investors may be interested in the company's financial health and market performance. According to InvestingPro data, Celanese boasts a solid market capitalization of $17.24 billion, reflecting its significant presence in the chemical and specialty materials industry.

The company's commitment to shareholder returns is evident, with a notable dividend yield of 1.81% as of the latest data.

InvestingPro metrics highlight Celanese's robust financial performance, with a revenue growth of 13.1% over the last twelve months as of Q4 2023, signaling the company's successful expansion and increasing market demand for its products. Furthermore, the company's price has seen a substantial uptick, with a 6-month total return of 28.13%, showcasing investor confidence and market momentum.

One InvestingPro Tip that stands out for Celanese is its high shareholder yield, which is a testament to the company's consistent ability to return value to its investors. Complementing this, Celanese has raised its dividend for 14 consecutive years, underscoring its reliable financial management and strong commitment to providing steady returns to its shareholders.

For investors seeking a deeper analysis of Celanese's financials and market position, InvestingPro offers additional tips that can guide investment decisions. With a total of 9 InvestingPro Tips available, investors can gain a comprehensive understanding of the company's prospects. Interested readers can unlock these insights and benefit from an exclusive offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

As Celanese continues to navigate the global market, these InvestingPro metrics and tips provide valuable context for investors considering the company's stock. With the next earnings date scheduled for April 24, 2024, stakeholders will be keenly watching for the company's performance updates and strategic directions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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