Press release from Business Wire
IFF Board of Directors Authorizes Quarterly Dividend of $0.39 per Share
Tuesday, July 30, 2013
IFF Board of Directors Authorizes Quarterly Dividend of $0.39 per Share16:53 EDT Tuesday, July 30, 2013
NEW YORK (Business Wire) -- The Board of Directors of International Flavors & Fragrances Inc. (NYSE: IFF) today authorized a quarterly dividend of $0.39 per share of the Company's common stock, an increase of $0.05 or 15% from the current quarterly dividend of $0.34 per share. The quarterly dividend will be distributed October 10, 2013, to shareholders of record at the close of business on September 26, 2013.
Including this authorization, IFF's quarterly dividend payment will have grown by a compound annual growth rate of 13% over the last three years.
Doug Tough, IFF's Chairman and CEO, said, “The increase in our quarterly dividend combined with our existing share repurchase program demonstrates our confidence in IFF's long-term growth prospects and commitment to returning capital to shareholders.”
About International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (NYSE: IFF) is a leading global creator of flavors and fragrances used in a wide variety of consumer products. Consumers experience these unique scents and tastes in fine fragrances and beauty care, detergents and household goods, as well as beverages, sweet goods and food products. The Company leverages its competitive advantages of consumer insight, research and development, creative expertise, and customer intimacy to provide customers with innovative and differentiated product offerings. A member of the S&P 500 Index, IFF has more than 5,800 employees working in 32 countries worldwide. For more information, please visit our website at www.iff.com.
Cautionary Statement Under The Private Securities Litigation Reform Act of 1995
This press release includes “forward-looking statements” under the Federal Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectation that it will continue to increase its dividends while investing in attractive growth opportunities. These forward-looking statements are qualified in their entirety by cautionary statements and risk factor disclosures contained in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K filed with the Commission on February 26, 2013. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company's expectations that could cause the Company's actual results for subsequent periods to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. With respect to the Company's expectations regarding our long-term growth prospects and commitment to return cash to shareholders, such factors include, but are not limited to: (1) the economic climate for the Company's industry and demand for the Company's products; (2) fluctuations in the price, quality and availability of raw materials; (3) decline in consumer confidence and spending; (4) changes in consumer preferences; (5) the Company's ability to implement its business strategy, including the achievement of anticipated cost savings, profitability, realization of price increases and growth targets; (6) the effects of any unanticipated costs and construction or start-up delays in the expansion of the Company's facilities; and (7) the Company's ability to successfully develop new and competitive products and enter and expand its sales in new and other emerging markets. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on the Company's business. Accordingly, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
International Flavors & Fragrances Inc.
Shelley Young, 212-708-7271
Director, Investor Relations