MIDLAND, Mich. & WILMINGTON, Del.--(BUSINESS WIRE)--
DowDuPont™ (NYSE: DWDP) has declared a dividend of 38 cents per share,
payable December 14, 2018, to shareholders of record on November 30,
2018.
This marks the fifth cash dividend issued by DowDuPont. Prior to merger
close, Dow and DuPont had paid shareholders cash dividends every quarter
since 1912 and 1904, respectively.
About DowDuPont
DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow
Chemical Company and DuPont with the intent to form strong, independent,
publicly traded companies in agriculture, materials science and
specialty products sectors that will lead their respective industries
through productive, science-based innovation to meet the needs of
customers and help solve global challenges. For more information, please
visit us at www.dow-dupont.com.
Cautionary Statement About Forward-Looking Statements
This communication contains “forward-looking statements” within the
meaning of the federal securities laws, including Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. In this context, forward-looking
statements often address expected future business and financial
performance and financial condition, and often contain words such as
“expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,”
“will,” “would,” “target,” and similar expressions and variations or
negatives of these words.
On December 11, 2015, The Dow Chemical Company (“Dow”) and E. I. du Pont
de Nemours and Company (“DuPont”) entered into an Agreement and Plan of
Merger, as amended on March 31, 2017, (the “Merger Agreement”) under
which the companies would combine in an all-stock merger of equals
transaction (the “Merger”). Effective August 31, 2017, the Merger was
completed and each of Dow and DuPont became subsidiaries of DowDuPont
(Dow and DuPont, and their respective subsidiaries, collectively
referred to as the "Subsidiaries").
Forward-looking statements by their nature address matters that are, to
varying degrees, uncertain, including the intended separation, subject
to approval of the Company’s Board of Directors, and customary closing
conditions, of DowDuPont’s agriculture, materials science and specialty
products businesses in one or more tax-efficient transactions on
anticipated terms (the “Intended Business Separations”). Forward-looking
statements are not guarantees of future performance and are based on
certain assumptions and expectations of future events which may not be
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond the Company’s control. Some of
the important factors that could cause DowDuPont’s, Dow’s or DuPont’s
actual results to differ materially from those projected in any such
forward-looking statements include, but are not limited to: (i) costs to
achieve and achieving the successful integration of the respective
agriculture, materials science and specialty products businesses of Dow
and DuPont, anticipated tax treatment, unforeseen liabilities, future
capital expenditures, revenues, expenses, earnings, productivity
actions, economic performance, indebtedness, financial condition,
losses, future prospects, business and management strategies for the
management, expansion and growth of the combined operations; (ii) costs
to achieve and achievement of the anticipated synergies by the combined
agriculture, materials science and specialty products businesses; (iii)
risks associated with the Intended Business Separations, including
conditions which could delay, prevent or otherwise adversely affect the
proposed transactions, including possible issues or delays in obtaining
required regulatory approvals or clearances related to the Intended
Business Separations, associated costs, disruptions in the financial
markets or other potential barriers; (iv) disruptions or business
uncertainty, including from the Intended Business Separations, could
adversely impact DowDuPont’s business (either directly or as conducted
by and through Dow or DuPont), or financial performance and its ability
to retain and hire key personnel; (v) uncertainty as to the long-term
value of DowDuPont common stock; and (vi) risks to DowDuPont’s, Dow’s
and DuPont’s business, operations and results of operations from: the
availability of and fluctuations in the cost of feedstocks and energy;
balance of supply and demand and the impact of balance on prices;
failure to develop and market new products and optimally manage product
life cycles; ability, cost and impact on business operations, including
the supply chain, of responding to changes in market acceptance, rules,
regulations and policies and failure to respond to such changes; outcome
of significant litigation, environmental matters and other commitments
and contingencies; failure to appropriately manage process safety and
product stewardship issues; global economic and capital market
conditions, including the continued availability of capital and
financing, as well as inflation, interest and currency exchange rates;
changes in political conditions, including trade disputes and
retaliatory actions; business or supply disruptions; security threats,
such as acts of sabotage, terrorism or war, natural disasters and
weather events and patterns which could result in a significant
operational event for the Company, adversely impact demand or
production; ability to discover, develop and protect new technologies
and to protect and enforce the Company’s intellectual property rights;
failure to effectively manage acquisitions, divestitures, alliances,
joint ventures and other portfolio changes; unpredictability and
severity of catastrophic events, including, but not limited to, acts of
terrorism or outbreak of war or hostilities, as well as management’s
response to any of the aforementioned factors. These risks are and will
be more fully discussed in the current, quarterly and annual reports
filed with the U. S. Securities and Exchange Commission by DowDuPont.
While the list of factors presented here is, considered representative,
no such list should be considered to be a complete statement of all
potential risks and uncertainties. Unlisted factors may present
significant additional obstacles to the realization of forward-looking
statements. Consequences of material differences in results as compared
with those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems, financial
loss, legal liability to third parties and similar risks, any of which
could have a material adverse effect on DowDuPont’s, Dow’s or DuPont’s
consolidated financial condition, results of operations, credit rating
or liquidity. None of DowDuPont, Dow or DuPont assumes any obligation to
publicly provide revisions or updates to any forward-looking statements
whether as a result of new information, future developments or
otherwise, should circumstances change, except as otherwise required by
securities and other applicable laws. A detailed discussion of some of
the significant risks and uncertainties which may cause results and
events to differ materially from such forward-looking statements is
included in the section titled “Risk Factors” (Part I, Item 1A) of
DowDuPont’s 2017 annual report on Form 10-K.
The Dow Diamond, DuPont Oval logo, DuPont™, the DowDuPont logo and all
products, unless otherwise noted, denoted with ™, ℠ or ® are trademarks,
service marks or registered trademarks of The Dow Chemical Company, E.
I. du Pont de Nemours and Company, DowDuPont Inc. or their affiliates.
In order to provide the most meaningful comparison of results of
operations and results by segment, supplemental unaudited pro forma
financial information has been included in the following financial
schedules. The unaudited pro forma financial information is based on the
historical consolidated financial statements and accompanying notes of
both Dow and DuPont and has been prepared to illustrate the effects of
the Merger, assuming the Merger had been consummated on January 1, 2016.
The results for the three months ended March 31, 2018, are presented on
a U.S. GAAP basis. For all other periods presented, adjustments have
been made for (1) the preliminary purchase accounting impact, (2)
accounting policy alignment, (3) eliminate the effect of events that are
directly attributable to the Merger Agreement (e.g., one-time
transaction costs), (4) eliminate the impact of transactions between Dow
and DuPont, and (5) eliminate the effect of consummated divestitures
agreed to with certain regulatory agencies as a condition of approval
for the Merger. The unaudited pro forma financial information was based
on and should be read in conjunction with the separate historical
financial statements and accompanying notes contained in each of the Dow
and DuPont Quarterly Reports on Form 10-Q and Annual Reports on Form
10-K for the applicable periods. The pro forma financial statements were
prepared in accordance with Article 11 of Regulation S-X. The unaudited
pro forma financial information has been presented for informational
purposes only and is not necessarily indicative of what DowDuPont's
results of operations actually would have been had the Merger been
completed as of January 1, 2016, nor is it indicative of the future
operating results of DowDuPont. The unaudited pro forma financial
information does not reflect any cost or growth synergies that DowDuPont
may achieve as a result of the Merger, future costs to combine the
operations of Dow and DuPont or the costs necessary to achieve any cost
or growth synergies.
Discussion of revenue, operating EBITDA and price/volume metrics on a
divisional basis for Agriculture is based on the results of the
Agriculture segment; for Materials Science is based on the combined
results of the Performance Materials & Coatings, Industrial
Intermediates & Infrastructure, and Packaging & Specialty Plastics
segments; and for Specialty Products is based on the combined results of
the Electronics & Imaging, Nutrition & Biosciences, Transportation &
Advanced Polymers, and Safety & Construction segments. The divisional
discussions are for informational purposes only and do not purport to be
indicative of results, including on a pro forma basis, for each of
Agriculture, Materials Science and Specialty Products on a standalone
basis as if the Intended Business Separations had already occurred.
Furthermore, the divisional discussions should not be construed as
representative of future results of operations or financial condition
for each of Agriculture, Materials Science and Specialty Products on a
standalone basis in connection with the Intended Business Separations.
View source version on businesswire.com:
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DowDuPont
Investors:
Greg Friedman
greg.friedman@dupont.com
+1
302-774-4994
or
Neal Sheorey
nrsheorey@dow.com
+1
989-636-6347
or
Media:
Dan Turner
daniel.a.turner@dupont.com
+1
302-996-8372
or
Rachelle Schikorra
ryschikorra@dow.com
+1
989-638-4090
Source: DowDuPont