Welcome to our dedicated page for Stepan news (Ticker: SCL), a resource for investors and traders seeking the latest updates and insights on Stepan stock.
Stepan Company manufactures specialty and intermediate chemicals, with recurring updates centered on surfactants, polyurethane polyols and related chemical applications. Its surfactants are used in consumer and industrial cleaning and disinfection products, agricultural solutions and oilfield solutions, while its polyurethane polyols serve thermal insulation and CASE markets.
Stepan news commonly covers operating and financial results, quarterly cash dividends, material agreements, governance matters and capital-structure disclosures for its NYSE-listed common stock. Company updates also include footprint optimization and asset-sale activity across its manufacturing network in North and South America, Europe and Asia.
Stepan Company (NYSE: SCL) declared a quarterly cash dividend of $0.335 per share on February 16, 2022. This dividend will be payable on March 15, 2022, to stockholders of record on March 4, 2022. This increase marks the 54th consecutive year of dividend growth, a sign of the company's commitment to returning value to shareholders. Stepan is recognized for its specialty chemicals used in various industries and has a significant global production network.
Stepan Company (NYSE: SCL) announced F. Quinn Stepan, Jr.'s retirement as CEO effective April 25, 2022, transitioning to non-executive Chairman of the Board. Scott Behrens, the current President and COO, will succeed him. During Stepan's tenure since 2006, sales grew over 50%, and net income rose from $13 million in 2005 to $138 million in 2021. The company's market capitalization surged from $142 million to $2.8 billion. The Board emphasizes a well-planned succession process to ensure continued growth.
Stepan Company (NYSE: SCL) will release its fourth quarter and full year 2021 earnings results on February 17, 2022, at 7:00 am ET. A conference call to discuss the financial performance will follow at 10:00 am ET, hosted by key executives including Chairman F. Quinn Stepan, Jr. and CFO Luis E. Rojo. Stepan is a major manufacturer of specialty chemicals, supplying a diverse range of industries. The company's production facilities span North and South America, Europe, and Asia, emphasizing its global footprint in the market.
Stepan Company (NYSE: SCL) reported a net income of $36.9 million for Q3 2021, or $1.59 per diluted share, up from $33.2 million, or $1.43 per share, a year earlier. Adjusted net income remained flat at $36.4 million. Total sales rose 30% to $602.7 million compared to Q3 2020, driven by higher selling prices. Surfactant operating income fell 16% to $34.5 million due to supply chain disruptions and lower demand for consumer products. Despite challenges, the company increased its quarterly dividend by 10.9%, marking 54 consecutive years of dividend growth.
Stepan Company (NYSE: SCL) announced a $220 million investment to build a new alkoxylation plant at its Pasadena, Texas facility. The project aims to enhance capacity by 75,000 metric tons per year, focusing on both ethoxylation and propoxylation. This expansion will strengthen Stepan's ability to meet growing global demand in its Surfactant and Polymer businesses. The new facility is expected to commence operations in late 2023, increasing Stepan's alkoxylation network to three plants in the strategic U.S. Gulf Coast region.
Stepan Company (NYSE:SCL) announced a 9.8% increase in its quarterly cash dividend to $0.335 per share, marking the 54th consecutive year of dividend increases. The dividend is payable on December 15, 2021, to shareholders of record by November 30, 2021. Additionally, the Board authorized a $150 million share repurchase program to enhance shareholder value. Chairman F. Quinn Stepan, Jr. emphasized the company's strong balance sheet and cash flow, affirming their commitment to disciplined capital allocation.
Stepan Company (NYSE: SCL) will release its third quarter 2021 earnings results on October 20, 2021, at 7:00 am ET. A conference call will follow at 10:00 am ET to discuss financial performance and answer questions. The call will be hosted by executives including F. Quinn Stepan, Jr. and Scott R. Behrens. Investors can access the call via phone or webcast at Stepan's website. Stepan specializes in manufacturing specialty chemicals for various industries and is headquartered in Northbrook, Illinois.
On July 27, 2021, Stepan Company (NYSE:SCL) declared a quarterly cash dividend of $0.305 per share, payable on September 15, 2021, to stockholders of record by August 31, 2021. This marks the 53rd consecutive year of dividend increases by the company. Stepan Company specializes in manufacturing specialty and intermediate chemicals across various industries, including consumer cleaning and insulation markets. The company has a global production network and is committed to sustainability.
Stepan Company (NYSE: SCL) has reported record second quarter net income of $43.3 million ($1.85 per share), up from $35.7 million ($1.54 per share) year-over-year. Adjusted net income for the quarter was $42.2 million ($1.81 per share), marking a 10% increase. Overall sales volume rose by 5%, but surfactant operating income fell by 5% due to inflation and maintenance costs. Polymer sales soared 70%, fueled by a 44% surge in global sales volume. The company aims for growth despite challenges in the consumer market and ongoing raw material price increases.
Stepan Company (NYSE: SCL) is set to release its second quarter 2021 earnings on July 28, 2021, at 7:00 am ET. A conference call will follow at 10:00 am ET to discuss financial performance. Hosted by CEO F. Quinn Stepan, Jr. and other executives, the call will be accessible via phone and webcast. Stepan is a major manufacturer of specialty chemicals, with production facilities across the Americas, Europe, and Asia. The company's stock trades on the NYSE under the symbol SCL.