BERWYN, Pa.--(BUSINESS WIRE)--
Trinseo
(NYSE: TSE), a global materials solutions provider and manufacturer of
plastics, latex binders and synthetic rubber, today announced that its
Board of Directors authorized the Company to initiate a quarterly
repayment of equity of $0.30 per share. The first repayment of equity
will be a cash distribution payable on July 20, 2016, to shareholders of
record as of the close of business on July 6, 2016.
“I am pleased with our plans to return capital quarterly to our
shareholders," stated Chris Pappas, President and CEO of Trinseo. "We
believe returning cash to our shareholders to enhance overall financial
returns demonstrates the confidence the Board of Directors has in our
management team, our strategy, and our long-term opportunities to drive
meaningful EBITDA growth and cash flow."
About Trinseo
Trinseo (NYSE: TSE) is a global materials solutions provider and
manufacturer of plastics, latex binders, and synthetic rubber. We are
focused on delivering innovative and sustainable solution to help our
customers create products that touch lives every day — products that are
intrinsic to how we live our lives — across a wide range of end-markets,
including automotive, consumer electronics, appliances, medical devices,
lighting, electrical, carpet, paper and board, building and
construction, and tires. Trinseo had approximately $4.0 billion in
revenue in 2015, with 18 manufacturing sites around the world, and more
than 2,200 employees.
Forward Looking Statements
This press release may contain “forward-looking statements” within
the meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,”
“plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,”
“potential,” “continue,” and similar expressions are intended to
identify such forward-looking statements. Forward-looking statements in
this press release may include, without limitation, forecasts of growth,
revenues, business activity, acquisitions, financings and other matters
that involve known and unknown risks, uncertainties and other factors
that may cause results, levels of activity, performance or achievements
to differ materially from results expressed or implied by this press
release. As a result of the foregoing considerations, you are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.
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Source: Trinseo