Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, today announced that its Board of Directors authorized the Company to initiate a quarterly repayment of equity of $0.30 per share. The first repayment of equity will be a cash distribution payable on July 20, 2016, to shareholders of record as of the close of business on July 6, 2016.
“I am pleased with our plans to return capital quarterly to our shareholders," stated Chris Pappas, President and CEO of Trinseo. "We believe returning cash to our shareholders to enhance overall financial returns demonstrates the confidence the Board of Directors has in our management team, our strategy, and our long-term opportunities to drive meaningful EBITDA growth and cash flow."
Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. We are focused on delivering innovative and sustainable solution to help our customers create products that touch lives every day - products that are intrinsic to how we live our lives - across a wide range of end-markets, including automotive, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires. Trinseo had approximately $4.0 billion in revenue in 2015, with 18 manufacturing sites around the world, and more than 2,200 employees.
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