DuPont declared a third quarter common stock dividend of 38 cents per share payable September 29, 2017, to stockholders of record July 31, 2017. The dividend is expected to be the last under the DuPont name.
Since the companies expect the merger to close between August 1 and September 1, Dow and DuPont have coordinated their respective third quarter common stock dividend record and payment dates, as required by the merger agreement. For DuPont, it was the 452nd consecutive quarterly dividend since the company’s first dividend in the fourth quarter of 1904.
Regular quarterly dividends of $1.12-1/2 per share on the $4.50 series preferred stock and $0.87-1/2 cents per share on the $3.50 series preferred stock also were declared, both payable October 25 to stockholders of record October 10.
The merger into DowDuPont will be followed by a spin-off into three public companies under current plans. However, consultants and staff are looking at other transactions, such as asset sales and further spin-offs in an effort to boost value to shareholders.
DowDuPont has committed to keeping headquarters of two of the companies in Delaware, including the key agricultural business. However, the size of those operations has not be announced.