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5/2/2019, 1:32 PM (Source: TeleTrader)
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Dow Inc reports revenue at $10.8B in Q1, down 10% YoY

American chemicals company Dow Inc., which was spun off of DowDuPont on April 1, 2019, reported on Thursday its revenue for the first quarter of the fiscal year 2019 stood at $10.8 billion, declining 10% compared to the same period a year ago. Meanwhile, the operating EBITDA amounted to $1.9 billion, down 24% year on year.

Equity losses were $10 million in the first quarter of this year compared to equity earnings standing at $208 million in the same period a year ago. According to the company, the division declared a dividend of $0.70 per share to be paid on June 14 this year to stockholders of record as of May 31, 2019. Dow also confirmed the $3 billion open share repurchasing program.

"We successfully separated from DowDuPont on April 1, and are moving forward as the new Dow – a materials science leader well positioned to operate more productively, invest more prudently, grow more profitably and deliver higher returns to shareholders," said Dow CEO Jim Fitterling.

Breaking the News / VK