Covington based Chemical and Petroleum Company Ashland Inc's Board of Directors (BOD) in separate actions authorized the purchase of its common shares in an amount up to $270 million and declared the regular quarterly dividend of 27.5 cents per common share on the company's stock, equivalent to an annual dividend of $1.10 per share.
The stock repurchase program is designed to purchase shares from time to time in the open market in compliance with contractual, IRS and other applicable restrictions.
“This share repurchase decision by the board clearly demonstrates their commitment to deliver value to their shareholders,” said James J. O'Brien, Ashland's chairman and chief executive officer.
The regular dividend will be payable on September 15, 2005, to shareholders of record at the close of business on August 22, 2005. As of June 30, 2005, there were 74,199,816 shares outstanding.
Ashland Inc is a chemical and transportation construction company providing innovative products, services and solutions.
A Fortune 500 company, we have sales and operations throughout the United States and in more than 120 countries around the world. Our operations include four wholly owned divisions: Ashland Paving And Construction (APAC), Ashland Distribution, Ashland Specialty Chemical and Valvoline.
They have come a long way since started in 1924 as a regional petroleum refiner. Despite our growth, and thanks to our vision, they have a strong sense of who they are, and an unyielding commitment to how we want to practice business.
marketing@alchempro.com
