March 8 (Reuters) - DowDuPont Inc said on Friday it will separate its material science unit, to be called Dow, on April 1.
DowDuPont, which was formed by the $130 billion merger of chemical giants Dow Chemical and DuPont in September 2017, is in the process of splitting reut.rs/2f3HoRa itself up into three companies - Dow, DuPont and Corteva Agriscience.
In relation to the separation, the company also declared a dividend for DowDuPont stockholders, who will receive one share of Dow for every three shares of DowDuPont held as of March 21. The dividend will be payable on April 1.
Corteva, the agriculture unit, is set to separate from the new specialty chemical maker DuPont on June 1.
Reporting by Shanti S Nair in Bengaluru; Editing by Shinjini Ganguli