Quaker Houghton Approves $0.508 Dividend and $250M Buyback; New Chairman Named
Quaker Houghton declared a $0.508 per-share quarterly dividend payable July 31 to holders of record July 17 and authorized a new $250 million stock repurchase program replacing its 2024 plan. Mark A. Douglas was elected chairman effective May 13, succeeding retiring director Michael F. Barry.
1. Dividend and Repurchase Program
The board declared a quarterly cash dividend of $0.508 per share, payable July 31 to shareholders of record on July 17. It approved a new $250 million share repurchase program, replacing the 2024 authorization, to be funded with cash on hand and future free cash flow, with timing and volume at management’s discretion.
2. Board Leadership Transition
Mark A. Douglas was elected chairman of the board effective May 13, succeeding Michael F. Barry, who retired after serving as chairman for 17 years and on the board since 2008. In connection with the change, the board size was reduced from eleven to ten directors and the lead independent director role was eliminated.