Trinseo sets quarterly dividend at $0.01 per share

WAYNE, Pa. - Trinseo (NYSE: NYSE:TSE), a global provider of specialty material solutions, has declared a quarterly dividend of $0.01 per share, according to the company's recent announcement. The upcoming dividend is scheduled for distribution on October 24, 2024, to shareholders who are on record by the close of business on October 10, 2024.

The company, which reported net sales of approximately $3.7 billion in 2023, specializes in partnering with various companies to develop innovative and sustainable material solutions. Trinseo's expertise spans a broad range of industries, including building and construction, consumer goods, medical, and mobility.

Employing around 3,100 people across North America, Europe, and Asia Pacific, Trinseo emphasizes its commitment to sustainability and innovation in its operations. The company's materials are integral to the design and manufacturing processes of its clients, aiming to address unique industry challenges with its extensive experience.

This dividend announcement is part of Trinseo's financial activities and is a factual statement of the company's planned cash distribution to its shareholders. It is important to note that this press release contains forward-looking statements, which are based on current management expectations and are subject to various risks and uncertainties that could cause actual results to differ materially.

Shareholders and investors are reminded that forward-looking statements should not be seen as guarantees of future performance and are advised to consider the potential risks and uncertainties that could impact the company's business. These include, but are not limited to, the ability to implement restructuring initiatives, manage raw material supply and costs, and comply with relevant regulations.

The information reported here is based on a press release statement from Trinseo and is intended to provide shareholders and the general public with the latest dividend information regarding the company.

In other recent news, Trinseo, the global materials company, reported its second-quarter 2024 financial results, which met market expectations and marked the highest adjusted EBITDA since Q2 2022. The company's engineered materials segment saw a surge in sales volumes, which contributed to its financial performance. Trinseo anticipates becoming cash flow positive in the latter half of the year and maintaining similar adjusted EBITDA in the third quarter, although it expects lower profitability in the fourth quarter due to typical year-end seasonality.

Additionally, Trinseo is making strides in sustainability with the opening of a PMMA depolymerization facility and advancements in a polycarbonate dissolution pilot facility. The company plans to commence the sale of the Americas Styrenics joint venture in Q3 2024. It also expects to realize $100 million in cost savings from the closure of two styrene plants and the removal of natural gas hedges.

Furthermore, Trinseo is witnessing growth in the battery market due to technological advancements. The company also retains the option to defer a portion of their term loan interest payments to preserve liquidity. These are among the recent developments surrounding the company.

InvestingPro Insights

As Trinseo (NYSE: TSE) announces its dividend distribution, investors may find it beneficial to consider additional insights from InvestingPro. Despite the company's significant role in providing specialty material solutions, Trinseo faces challenges reflected in its financial metrics. With a market capitalization of $202.87 million, Trinseo's financial health is under scrutiny, especially with a negative P/E ratio of -0.45, indicating that the company has not been profitable in the last twelve months leading up to Q2 2024.

InvestingPro Tips highlight that Trinseo operates with a significant debt burden and is quickly burning through cash, which could raise concerns about its long-term financial sustainability. Moreover, the company's stock price movements have been quite volatile, adding a layer of risk for potential investors. On the positive side, Trinseo has shown a strong return over the last three months, with a price total return of 99.79%, and a large price uptick over the last six months, at 55.2%. This suggests that while there are financial challenges, the company's stock has recently been on an upward trajectory.

It's also worth noting that Trinseo's gross profit margin stands at 5.1%, which, according to InvestingPro Tips, indicates weak gross profit margins. For investors looking to delve deeper into Trinseo's financials and future outlook, additional InvestingPro Tips are available, with a total of 11 tips listed on the platform, offering a comprehensive analysis of the company's performance and potential investment strategies.

For more detailed analysis and further tips on Trinseo, interested parties can explore the insights on https://www.investing.com/pro/TSE.

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