Edition:
United States

Dow Outlines Investment Thesis And Capital Allocation Priorities During Meeting With Sell-Side Analysts


Monday, 25 Feb 2019 07:00am EST 

Feb 25 (Reuters) - DowDuPont Inc ::DOW OUTLINES INVESTMENT THESIS AND CAPITAL ALLOCATION PRIORITIES DURING MEETING WITH SELL-SIDE ANALYSTS.DOW- INTENDS TO ISSUE ANNUAL DIVIDEND PAYOUT OF $2.1B AND LAUNCH $3B OPEN SHARE REPURCHASE PROGRAM AFTER SEPARATION.DOW - CONFIRMS NEAR-TERM CAPEX EXPENDITURES AT OR BELOW DEPRECIATION AND AMORTIZATION - IN RANGE OF $2.5 BILLION - $2.8 BILLION - FOR AT LEAST NEXT 3 YEARS.DOW- REITERATES COMMITMENT TO DELIVER COST SYNERGY SAVINGS AND STRANDED COST REMOVAL - APPROXIMATELY $800 MILLION REMAINING TO DELIVER.DOW - NEW DOW IS EXPECTED TO SEPARATE FROM DOWDUPONT AS AN INDEPENDENT, PUBLICLY TRADED COMPANY ON APRIL 1, 2019.DOW- GOALS OF NEW DOW HAS PROGRESS IS MAKING TOWARD ITS TARGETED CAPITAL STRUCTURE, WITH A TARGET ADJUSTED GROSS DEBT TO EBITDA RATIO OF 2.5X - 3.0X.