Welcome to our dedicated page for Kronos Worldwide news (Ticker: KRO), a resource for investors and traders seeking the latest updates and insights on Kronos Worldwide stock.
Kronos Worldwide, Inc. reports developments tied to its role as an international producer of titanium dioxide products. Company updates center on TiO2 selling prices, sales volumes, production levels, raw material and energy costs, currency effects and regional demand across North American, European, Latin American and export markets.
News also covers quarterly and annual earnings releases, board-declared cash dividends on common stock, cost-reduction and operating realignment initiatives, pension-related items and product mix changes. Kronos' titanium dioxide pigments are used in coatings and plastics applications, including automotive, aircraft, machinery, appliances, traffic paint, packaging, housewares, toys and computer cases.
Kronos Worldwide, Inc. (NYSE: KRO) has declared a quarterly dividend of $0.18 per share, reflecting the company's commitment to returning value to shareholders. This dividend will be payable on September 10, 2020, to stockholders of record as of September 1, 2020. As a key player in the titanium dioxide market, Kronos continues to maintain its financial stability despite market fluctuations, ensuring its shareholders benefit from consistent dividends.
Kronos Worldwide reported a net income of $18.6 million or $0.16 per share for Q2 2020, down from $29.5 million or $0.25 per share in Q2 2019. For the first half of 2020, net income was $45.6 million, down 24% year-over-year.
Net sales for Q2 2020 were $386 million, a 20% decline from the previous year, primarily due to lower TiO2 sales volumes and pricing, impacted by the COVID-19 pandemic. Segment profit also fell to $37 million from $51.1 million in Q2 2019. Currency fluctuations further contributed to decreased sales.
Kronos Worldwide, Inc. (NYSE: KRO) has declared a quarterly dividend of $0.18 per share, payable on June 18, 2020, to stockholders of record by the close of business on June 9, 2020. Additionally, during its 2020 annual stockholder meeting, KRO's stockholders elected seven directors for a one-year term and approved a nonbinding advisory resolution on the compensation of named executive officers as outlined in the proxy statement. Kronos is a leading international producer of titanium dioxide products.
Kronos Worldwide reported a net income of $27.0 million in Q1 2020, down from $30.3 million in Q1 2019, reflecting lower sales volumes and higher production costs. Total net sales reached $421.0 million, a 4% decrease year-over-year. TiO2 sales volumes fell 5%, particularly in North America and Latin America, while average selling prices remained stable. The company anticipates a decline in sales and earnings for the remainder of 2020 due to uncertainties from the COVID-19 pandemic, although its operations were minimally affected in Q1.