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 a quarterly dividend of $0.40 per share. The dividend will be a cash distribution payable on April 23, 2020, to shareholders of record as of the close of business on April 9, 2020.
Trinseo is a public limited liability company formed under the laws of Luxembourg. Under current Luxembourg tax law, distributions to shareholders via repayments of equity or share premium are not subject to Luxembourg withholding tax. Distributions made by Trinseo on or prior to January 23, 2020 were repayments of equity or share premium and were therefore not subject to Luxembourg withholding tax.
The distribution to our shareholders declared on February 26, 2020, and future distributions, will be considered a dividend made on the common shares and is subject to a 15% withholding tax under Luxembourg law. Trinseo will deduct this tax from the dividends paid to our shareholders and transfer this tax to the Luxembourg tax authorities.
Certain exemptions or reductions in the withholding tax may apply to shareholders based on Luxembourg tax legislation or applicable income tax treaties. Shareholders should consult their own tax advisors regarding the ability to claim any available refunds from the Luxembourg tax authority. Trinseo S.A.’s RCSL number is B153549.
The above discussion does not cover all tax matters that may be of importance to any particular shareholder and may not be relevant to every investor. Shareholders are strongly urged to consult their own tax advisors about the tax consequences of Luxembourg withholding taxes, the availability of exemptions or benefits under tax treaties, or other U.S. federal, state, local and foreign tax considerations relating to dividends issued by Trinseo, or the acquisition, ownership and disposition of our ordinary shares.
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 solutions 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 $3.8 billion in net sales in 2019, with 17 manufacturing sites around the world, and approximately 2,700 employees. For more information visit www.trinseo.com.
This press release may contain “forward-looking statements” including, without limitation, statements concerning plans, objectives, goals, projections, expectations, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. Forward-looking statements may be identified by the use of words like “expect,” “estimate,” “will,” “may,” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on the Company’s current expectations and assumptions regarding the impact from the COVID-19 pandemic, the Company’s business, the economy and other future conditions. Specific factors that could cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, risks related to the ongoing impact of the COVID-19 pandemic and those discussed in the Company’s Annual Report for the year ended December 31, 2019 filed with the Securities and Exchange Commission (“SEC”), in subsequent Quarterly Reports on Form 10-Q and in other filings and furnishings made by the Company with the SEC from time to time. Other unknown or unpredictable factors could also have material adverse effects on the Company’s performance. As a result of these or other factors, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and are not a guarantee of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.