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BOSTON - Cabot Corporation (NYSE: CBT), a global specialty chemicals company, announced Monday an increase in its quarterly dividend. The board of directors has declared a new dividend of $0.45 per share, which marks a 5% rise from the previous $0.43 per share. This dividend is due for payment on June 13, 2025, to shareholders recorded by May 30, 2025. This increase extends the company’s impressive track record of 55 consecutive years of dividend payments and marks its 13th consecutive year of dividend increases, according to InvestingPro data.
The company’s President and Chief Executive Officer, Sean Keohane, expressed the board’s confidence in Cabot’s consistent earnings and strong cash flow, which he believes underpin this decision. Keohane highlighted the dividend increase and recent share repurchase authorization as measures of the company’s dedication to creating shareholder value. The company’s financial strength is evident in its healthy current ratio of 2.0 and strong free cash flow yield of 10%. He also noted that these steps are in line with Cabot’s strategy to balance rewarding shareholders and investing in growth. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 8 additional exclusive insights available to subscribers.
On an annualized basis, the increased dividend amounts to $1.80 per share, compared to the previous rate of $1.72 per share. Trading near its 52-week low at $77.50 per share, the stock offers a dividend yield of 2.21% and maintains an attractive P/E ratio of 10.2. This announcement comes as part of Cabot’s broader financial strategy and reflects the company’s financial health and commitment to its shareholders.
Cabot Corporation, headquartered in Boston, Massachusetts, is a leading provider in various sectors, including reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides, and aerogel. With annual revenues of nearly $4 billion and an EBITDA of $794 million, the company demonstrates solid operational performance. For a comprehensive analysis of Cabot’s financial health and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro. The company regularly updates investors through its website and encourages stakeholders to stay informed via its online platform.
The press release also contains a safe harbor statement, cautioning that certain statements about Cabot’s business that are not historical facts may be forward-looking and subject to risks and uncertainties. It refers to the "Risk Factors" section in the company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2024, for more details on these risks.
This news article is based on a press release statement from Cabot Corporation.
In other recent news, Cabot Corporation held a shareholder meeting where key proposals were approved, including executive compensation and the election of board nominees. The company confirmed the election of directors such as Michael M. Morrow and Thierry Vanlancker, with terms expiring in 2028. Shareholders also approved the compensation package for the company’s named executive officers with a significant majority voting in favor. The 2025 Long-Term Incentive Plan was approved, reflecting support for aligning executive and shareholder interests for future growth. Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending September 30, 2025. This decision was made with nearly unanimous support. These developments indicate continued shareholder confidence in Cabot Corporation’s management and strategic direction.
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