UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On May 25, 2022, Ashland Global Holdings Inc. (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.335 cents per share on the Company’s common stock. This represents a 12% increase from the previous quarterly dividend of $0.30 cents per share. The dividend is payable June 15, 2022, to shareholders of record at the close of business on June 1, 2022.
In addition, the Board of Directors authorized a new evergreen $500 million common stock repurchase program, effective immediately. This new authorization terminates and replaces the Company’s 2018 $1 billion share repurchase authorization. Under the new program, the Company’s common shares may be repurchased in open market transactions, privately negotiated transactions or pursuant to one or more Rule 10b5-1 trading plans.
The text of the Company’s news release, announcing the dividend declaration and the new $500 million share repurchase program, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
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Exhibits |
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99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL Document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Date: |
May 25, 2022 |
By: |
/s/ J. Kevin Willis |
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J. Kevin Willis |
Exhibit 99.1
News Release
Ashland board authorizes a 12 percent increase in quarterly dividend and new, evergreen $500 million common stock repurchase program
WILMINGTON, Del., May 25, 2022 – The board of directors of Ashland Global Holdings Inc. (NYSE: ASH) has declared a quarterly cash dividend of $0.335 cents per share on the company's common stock representing a 12 percent increase from the previous quarter. The dividend is payable on June 15, 2022, to stockholders of record at the close of business on June 1, 2022.
As of April 30, 2022, there were 54,124,915 shares of Ashland common stock outstanding.
In addition, the board of directors authorized a new, evergreen $500 million common stock repurchase program, effective immediately. The new authorization terminates and replaces the company’s 2018 $1 billion share repurchase program. Under the new program, the company’s common shares may be repurchased in open market transactions, privately negotiated transactions or pursuant to Rule 10b5-1 trading plans.
About Ashland
Ashland Global Holdings Inc. (NYSE: ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for sustainability. The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceuticals. Approximately 3,800 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and ashland.com/sustainability to learn more.
™ Trademark, Ashland or its subsidiaries, registered in various countries.
Investor Relations: |
Media Relations: |
Seth A. Mrozek |
Carolmarie C. Brown |
+1 (302) 594-5010 |
+1 (302) 995-3158 |
samrozek@ashland.com |
ccbrown@ashland.com |