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DOW Declares 2Q Dividend of $0.46

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Dow announces dividend

On February 9, 2017, Dow Chemical (DOW) declared a dividend of 46 cents per share for the second quarter. The dividend will be paid on April 28, 2017, to shareholders of record as of March 31. This is Dow Chemical’s 422nd consecutive cash dividend paid to shareholders. Dow has rewarded its shareholders with dividends every quarter since 1912.

 

On December 30, 2016, Dow Chemicals converted its preferred stock into common stock, which resulted in adding ~96.8 million shares to the existing outstanding shares, and in the process, eliminated the preferred dividend of $340 million, which had been paid every quarter.

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Dow Chemical’s stock price

For the week ended February 10, 2017, DOW closed at $61.19 and rose 1.6% for the week. DOW’s stock price traded 9.5% above the 100-day moving average price of $55.86, indicating an upward trend in the stock. On a year-to-date basis, DOW has moved up 6.9%. DOW’s 14-day relative strength index (or RSI) of 65 is inching towards an overbought situation. An RSI of 70 indicates that the stock is overbought, and a score of 30 indicates that the stock is oversold. DOW’s 52-week low is $45.99, and its 52-week high is $61.73. DOW outperformed the Materials Select Sector SPDR ETF (XLB), which remained flat for the week ended February 10, 2017.

The top holdings of the fund include DuPont (DD), Monsanto (MON), and Praxair (PX) with weights of 11.7%, 8.2%, and 5.8%, respectively, as of February 10, 2017.

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