Stepan Co. (SCL) Tops Q2 EPS by 14c; Will Acquire Commercial Business of Brazil's Tebras
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July 20, 2016 7:00 AM EDT
NORTHFIELD, Ill., July 20, 2016 /PRNewswire/ --Â Stepan Company (NYSE: SCL) today reported:
On July 19, 2016, the Board of Directors of Stepan Company declared a quarterly cash dividend on its common stock of $0.19 per share. The dividend is payable on September 15, 2016, to common stockholders of record on August 31, 2016. The Company increased its quarterly cash dividend in the fourth quarter of 2015 by $0.01 per share, marking the 48th consecutive year that the company has increased its cash dividend to shareholders.Â
Corporate Profile
Stepan Company is a major manufacturer of specialty and... More
July 20, 2016 7:00 AM EDT
NORTHFIELD, Ill., July 20, 2016 /PRNewswire/ -- Stepan Company (NYSE: SCL) today reported that its subsidiary in Brazil has reached an agreement with Tebras Tensoativos do Brazil Ltda. (Tebras) to acquire their commercial business and with PBC Industria Quimica Ltda. (PBC) to acquire their sulfonation production facility. The combined entities have annual sales of approximately $32 million dollars, 25,000 metric tons of sulfonation capacity and a large, diverse customer portfolio.Â
Both definitive agreements are subject to customary closing conditions and the transaction is projected to close in the fourth quarter of 2016. The transaction is expected to... More
July 20, 2016 7:00 AM EDT
NORTHFIELD, Ill., July 20, 2016 /PRNewswire/ --Â Stepan Company (NYSE: SCL) today reported:
Second Quarter Highlights
Reported net income was a record $27.9 million, or $1.21 per diluted share, a 65% increase versus $16.9 million, or $0.74 per diluted share, in the prior year.
Adjusted net income* was a record $30.1 million, or $1.31 per diluted share, a 44% increase versus $20.9 million, or $0.91 per diluted share, in the prior year. Total sales volume increased 12% for the quarter.
Surfactant operating income was $27.2 million, a 12% increase versus prior year benefiting from our internal efficiency...
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