Welcome to our dedicated page for Ashland news (Ticker: ASH), a resource for investors and traders seeking the latest updates and insights on Ashland stock.
Ashland Inc. reports developments for a global additives and specialty ingredients business serving pharmaceuticals, personal care, food and beverage, architectural coatings, construction, energy and other industrial markets. Company updates commonly cover quarterly results and outlook, segment demand across Life Sciences, Personal Care, Specialty Additives and Intermediates, pricing actions tied to raw-material and logistics conditions, and capital returns through common-stock dividends.
Other Ashland news includes product and regulatory developments for specialty ingredients such as agrimer™ eco-coat polymer seed coating from the Transformed Vegetable Oils technology platform, as well as distribution relationships for cellulose ethers and PVPP in food and beverage applications.
Ashland Global Holdings Inc. (NYSE: ASH) has announced an agreement to sell its maleic anhydride business and manufacturing facility in Neal, West Virginia, to AOC Materials LLC for $100 million. The deal is expected to close by the end of 2020, pending regulatory approvals. This sale aligns with Ashland's strategy to streamline its portfolio and focus on specialty ingredients and improved margins. AOC expresses excitement over the growth potential of the acquired business, which serves applications in coatings and polymers.
Ashland Global Holdings Inc. (NYSE: ASH) released preliminary financial results for the third quarter of fiscal 2020, reporting sales of approximately $574 million, a 10% decrease year-over-year. Income from continuing operations is expected to be around $50 million, equating to $0.81 per diluted share. Adjusted EBITDA is projected at $143 million, reflecting a 2% growth. The company noted strong demand in consumer markets, particularly in pharmaceuticals and sanitizers, while industrial demand weakened. Ashland aims to further enhance its cost structure, anticipating $20-$30 million in cost reductions.
Ashland Global Holdings Inc. (NYSE: ASH) has appointed Yvonne Winkler von Mohrenfels as general counsel and secretary effective January 1, 2021. This decision follows the retirement of Peter J. Ganz, who has significantly contributed to the company's legal and compliance efforts since joining in 2011. Winkler von Mohrenfels, a member of Ashland since 2009, has extensive legal experience in various industries, positioning her well for this transition. The board of directors believes this change will support Ashland's ongoing transformation and future success.
The board of directors of Ashland Global Holdings has declared a quarterly cash dividend of $0.275 per share on common stock. This dividend will be payable on June 15, 2020, to stockholders of record as of June 1, 2020. As of March 31, 2020, there are 60,456,039 shares outstanding. Ashland is a premier global specialty materials company serving various sectors, including automotive, pharmaceuticals, and food and beverage.
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