Avient announces quarterly dividend of $0.2575 per share

CLEVELAND - Avient Corporation (NYSE: AVNT), a provider of specialized and sustainable material solutions, has announced a quarterly cash dividend. Shareholders can expect to receive twenty-five and three-quarters cents ($0.2575) per share of common stock. The dividend is scheduled for payment on October 9, 2024, to stockholders recorded by September 13, 2024.

The company, known for its sustainable materials solutions, aims to address customer challenges by creating new products that contribute to a more sustainable world.

Avient's offerings include Dyneema®, branded as the world's strongest fiber, which is utilized in various applications from personal protection to marine and infrastructure projects. Moreover, Avient focuses on advancing the circular economy through technologies that enhance product recyclability and incorporate recycled content.

Their portfolio also features light-weighting solutions that replace heavier traditional materials such as metal, glass, and wood. These solutions are designed to improve fuel efficiency across different transportation modes and help reduce carbon emissions. Further, Avient provides sustainable infrastructure solutions that aim to bolster energy efficiency, support renewable energy initiatives, and facilitate natural resource conservation.

Avient's commitment to sustainability and responsible practices is underscored by its certifications. It is an ACC Responsible Care® certified company, a founding member of the Alliance to End Plastic Waste, and recognized as a Great Place to Work®.

This dividend declaration by Avient's Board of Directors reflects the company's ongoing financial practices and its dedication to delivering value to its stockholders. The information provided in this article is based on a press release statement from Avient Corporation.

In other recent news, Avient Corporation has made significant strides in financial performance and sustainability initiatives. The company recently announced a quarterly cash dividend of $0.2575 per share, reflecting its commitment to providing shareholder value. Avient is also making strides in creating sustainable materials solutions, with a focus on enhancing recyclability and reducing carbon footprints.

On the earnings front, Avient started 2024 strong by surpassing first-quarter earnings expectations and raising its outlook for the remainder of the year. The company reported an adjusted earnings per share (EPS) of $0.76, exceeding guidance by $0.08, despite a slight dip in organic sales. The increased full-year guidance for both adjusted EBITDA and EPS signals confidence in continued growth.

These developments are part of Avient's recent actions to enhance shareholder value and demonstrate resilience in a complex market environment. The company's focus on sustainable materials and strong financial performance are recent highlights for investors. While no predictions can be made on future performance, these recent actions indicate Avient's commitment to its strategic objectives.

InvestingPro Insights

Avient Corporation (NYSE: AVNT) remains a stalwart in its commitment to shareholder returns, as evidenced by its latest dividend announcement. This consistency is not new; according to InvestingPro Tips, Avient has raised its dividend for 13 consecutive years and has maintained dividend payments for 14 consecutive years. Such a track record can be a beacon for income-focused investors seeking stable dividend growers.

InvestingPro data further enriches this narrative with a glimpse into Avient's financial health. The company's market capitalization stands at $3.99 billion USD, and it operates with a Price/Earnings (P/E) ratio of 38.02. This valuation suggests a higher earnings multiple, which might reflect investor confidence in Avient's future earnings growth—a sentiment echoed by another InvestingPro Tip that forecasts net income growth for the year. Additionally, Avient's Gross Profit Margin over the last twelve months as of Q1 2024 is a solid 32.08%, indicating a strong ability to control costs relative to revenue.

For those interested in more in-depth analytics, there are additional InvestingPro Tips available, including insights on profitability and stock volatility. Avient's stock generally trades with low price volatility, which may appeal to conservative investors.

Furthermore, analysts predict the company will be profitable this year, and it has been profitable over the last twelve months. Readers looking to take a deeper dive into Avient's financial metrics can access these insights and more by using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.

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