UL Solutions raises quarterly dividend to $0.13 per share

NORTHBROOK, Ill. - UL Solutions Inc. (NYSE: ULS), a company specializing in safety science and currently valued at nearly $11 billion, has announced an increase in its quarterly dividend. The board of directors has declared a new dividend of $0.13 per share, marking a $0.005 rise per share. This adjustment brings the annual dividend to $0.52 per share, which is a 4% increase from the previous rate, resulting in a yield of 0.91%. According to InvestingPro data, the company has demonstrated impressive performance with a 58% return over the past year.

The upcoming dividend is scheduled to be distributed on March 10, 2025, to shareholders who are recorded by the close of business on February 28, 2025. Jennifer Scanlon, the president and CEO of UL Solutions, expressed the company’s enthusiasm for the increased dividend, highlighting it as an additional return to shareholders. The company maintains strong financial metrics, with a healthy gross profit margin of 48.3% and annual revenue of $2.8 billion.

UL Solutions Inc. operates on a global scale, providing services that address safety, security, and sustainability challenges. With operations in over 110 countries, the company offers a suite of services including testing, inspection, certification, software products, and advisory services. These offerings aim to support customer innovation and business expansion.

The UL Mark, a symbol of trust, represents the company’s commitment to safety and is widely recognized on products around the world. UL Solutions assists clients in launching new products and services, navigating global markets, managing complex supply chains, and achieving sustainable and responsible growth.

The information for this report is based on a press release statement from UL Solutions Inc.

In other recent news, UL Solutions Inc. has announced a significant change in its leadership team. Alex Dadakis has been appointed as the new Executive Vice President, Chief Business Operations and Innovation Officer, a role he is set to assume on January 27, 2025. Dadakis, leaving his position as Senior Vice President, Global Head of Strategy and Corporate Development at Knauf Group, Gebr KG in Germany, will be responsible for overseeing UL Solutions’ operational functions and leading strategy, commercial excellence, technology, and innovation initiatives.

UL Solutions CEO Jennifer Scanlon expressed optimism about Dadakis’ appointment, citing his potential contribution to the company’s Alpha strategy initiated in 2025. This strategy aims to centralize the business model and enhance customer experience. Dadakis, bringing his past experience from USG Corporation and Bain & Company, is anticipated to unify operations management and focus on innovation and science-led strategies for value creation.

These recent developments indicate a continued commitment by UL Solutions towards operational efficiency and strategic growth. With Dadakis’ appointment, the company reiterates its dedication to safety and delivering value to stakeholders, reflecting the impact on future generations.

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