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Quaker Chemical (KWR) Approves $0.23 Per Share Quarterly Dividend; CEO Comments
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Quaker Chemical Corporation (NYSE: KWR) today declared a quarterly dividend of $0.23 per share, payable on July 31, 2009, to shareholders of record at the close of business on July 17, 2009.
Current annual dividend yield is 6.50%.
Michael F. Barry, Chairman, Chief Executive Officer and President, commented, "As expected, we continue to see improvement in our second quarter earnings compared to the first quarter, primarily due to the actions taken as we reacted to significantly lower volumes in our markets. In addition, we have received favorable news relative to two of our customers, GM and Chrysler. While both customers filed for bankruptcy during the second quarter, we have been notified by each of them that our pre-bankruptcy invoices will be paid and, therefore, we anticipate having no or limited bad debt exposure."
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