CLEVELAND, Oct. 12,
2023 /PRNewswire/ -- The Board of Directors of Avient
Corporation (NYSE: AVNT), a leading provider of specialized and
sustainable material solutions, has declared a quarterly cash
dividend of twenty-five and three-quarters cents ($0.2575) per share on the common stock
outstanding, representing the thirteenth consecutive annual
increase.
The $0.2575 per share will be paid
on January 5, 2024, to stockholders
of record on December 15, 2023.
On an annualized basis, the dividend will increase from
$0.99 to $1.03 per share on the common stock
outstanding.
"We are pleased to raise our dividend for the thirteenth
consecutive year," said Robert M.
Patterson, Chairman, President and Chief Executive Officer,
Avient Corporation. "Since first introducing the dividend in
2011, we have transformed the company, significantly improving the
margin profile and cash generation of the business. This has
allowed us to expand shareholder returns through our dividend
program, which has increased at a compounded annual growth rate of
15%."
About Avient
Avient Corporation (NYSE: AVNT) provides specialized and
sustainable material solutions that transform customer challenges
into opportunities, bringing new products to life for a better
world. Examples include:
- Dyneema®, the world's strongest fiber™, enables unmatched
levels of performance and protection for end-use applications,
including ballistic personal protection, marine and sustainable
infrastructure and outdoor sports
- Unique technologies that improve the recyclability of products
and enable recycled content to be incorporated, thus advancing a
more circular economy
- Light-weighting solutions that replace heavier traditional
materials like metal, glass and wood, which can improve fuel
efficiency in all modes of transportation and reduce carbon
footprint
- Sustainable infrastructure solutions that increase energy
efficiency, renewable energy, natural resource conservation and
fiber optic / 5G network accessibility
Avient is certified ACC Responsible Care®, a founding member of
the Alliance to End Plastic Waste and certified Great Place to
Work®. For more information, visit https://www.avient.com.
To access Avient's news library online, please visit
www.avient.com/news.
Forward-looking Statements
In this press release, statements that are not reported
financial results or other historical information are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements give current expectations or forecasts of future events
and are not guarantees of future performance. They are based on
management's expectations that involve a number of business risks
and uncertainties, any of which could cause actual results to
differ materially from those expressed in or implied by the
forward-looking statements. They use words such as "will,"
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in
connection with any discussion of future operating or financial
condition, performance and/or sales. Factors that could cause
actual results to differ materially from those implied by these
forward-looking statements include, but are not limited to:
disruptions, uncertainty or volatility in the credit markets that
could adversely impact the availability of credit already arranged
and the availability and cost of credit in the future; the effect
on foreign operations of currency fluctuations, tariffs and other
political, economic and regulatory risks; changes in laws and
regulations regarding plastics in jurisdictions where we conduct
business; fluctuations in raw material prices, quality and supply,
and in energy prices and supply; production outages or material
costs associated with scheduled or unscheduled maintenance
programs; unanticipated developments that could occur with respect
to contingencies such as litigation and environmental matters; our
ability to achieve strategic objectives and successfully integrate
acquisitions, including Avient Protective Materials; an inability
to raise or sustain prices for products or services; our ability to
pay regular quarterly cash dividends, including at the increased
rate, and the amounts and timing of any future dividends;
information systems failures and cyberattacks; amounts for cash and
non-cash charges related to restructuring plans that may differ
from original estimates, including because of timing changes
associated with the underlying actions; and other factors affecting
our business beyond our control, including without limitation,
changes in the general economy, changes in interest rates, changes
in the rate of inflation and any recessionary conditions. The above
list of factors is not exhaustive.
Any forward-looking statement speaks only as of the date on
which such statement is made, and we undertake no obligation to
publicly update forward-looking statements, whether as a result of
new information, future events or otherwise. You are advised to
consult any further disclosures we make on related subjects in our
reports on Form 10-Q, 8-K and 10-K that we provide to the
Securities and Exchange Commission.
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SOURCE Avient Corporation
