Stepan Company Marks 53rd Consecutive Year of Quarterly Cash Dividend Increases and Reports Record Third Quarter Results
October 23, 2020
Stepan Company recently approved an increase of $0.03 per share, or 10.9%, on its quarterly cash dividend on its common stock, marking the 53rd consecutive year of increases. Read the full release here.
Stepan also reported record results for the third quarter of 2020, with an adjusted net income $36.4 million, or $1.56 per diluted share, up 30% versus $27.9 million, or $1.20 per diluted share, in the prior year. Total Company sales volume increased 2% compared to the first nine months of 2019.
"Today, the world continues to be challenged by the global pandemic. At Stepan, we are committed to do our part by supporting customers that supply essential cleaning, disinfection and personal wash products to the market. We are grateful to our employees for their passion and commitment to get the job done for our customers and for Stepan Company," said F. Quinn Stepan, Jr., Chairman, President and Chief Executive Officer.
Read the full release here.