Categories Consumer, U.S. Markets News

Ingredion Inc declares quarterly dividend less that a month after Western Polymer takeover

Ingredion Inc (NYSE: INGR) on Wednesday announced that its board declared a quarterly dividend of $0.625 per share on the company’s common stock.

The dividend is payable on April 25, 2019, to shareholders of record at the close of business on April 1, 2019.

Earlier this month, Ingredion announced that it acquired the operations of privately held Western Polymer, a Moses Lake, Washington-based company that produces native and modified potato starches for food and industrial applications along with selling modified tapioca starch for industrial applications.

According to the ingredient consolidator, this acquisition would “expand the Company’s potato starch manufacturing capacity, enhance processing capabilities, and broaden its higher-value specialty ingredients business and customer base.”

Terms of the deal were not disclosed.

“This next phase of growth is consistent with other actions we’ve taken to strengthen our specialties business and deliver long-term value for our shareholders,” Ingredion CEO Jim Zallie then said.

“This acquisition expands our higher-value specialty ingredients business, which is central to Ingredion’s growth strategy. We have tremendous respect for the culture and business that Western Polymer has built and we look forward to the future opportunities that we will create together,” he added.

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Infographic: Key highlights from Constellation Brands (STZ) Q1 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06

Walgreens Boots Alliance (WBA) Q3 profit drops on lower revenues; results beat

Walgreens Boots Alliance, Inc. (NASDAQ: WBA) on Thursday said its third-quarter revenues decreased. As a result, the healthcare service company's adjusted profit declined but exceeded consensus estimates. Net profit, on

ANGO Stock: Is it the right time to invest in AngioDynamics now?

The performance of AngioDynamics, Inc. (NASDAQ: ANGO) has not been very impressive lately, despite being part of a rapidly growing industry. But the company's efforts to bring innovation to the

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top