Huntsman Announces Share Repurchase Program and Quarterly Dividend
THE WOODLANDS, Texas, Aug. 5, 2011 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced that the company's board of directors has authorized the company to repurchase up to $100 million in shares of its common stock.
Peter R Huntsman, President and CEO of the company, commented: "Yesterday, we announced one of the strongest quarters in our company's history. This share repurchase program is an expression of confidence in the company's long term future and ability to create further shareholder value."
This program is effective immediately. Repurchases under this program will be made through the open market or in privately negotiated transactions. These repurchases may be commenced or suspended from time to time without prior notice.
The board also declared a $0.10 per share cash dividend on its common stock. The dividend is payable on September 30, 2011 to stockholders of record as of September 15, 2011.
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2010 revenues of over $9 billion. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
SOURCE Huntsman Corporation
Released August 5, 2011