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Celanese (NYSE: CE ) will have to pony up a significantly higher amount of money for its shareholder payouts. The company has declared a common stock dividend of $0.18 per share, to be paid on August 15 to shareholders of record as of August 5. That amount is exactly double the company's previous distribution of $0.09.
In the press release announcing the news, the firm quoted Chairman and CEO Mark Rohr as saying that the increase "reflects our continued confidence in Celanese's strategic direction and our ability to generate cash to support our long-term growth objectives."
The new dividend annualizes to $0.72 per share. That yields 1.5% at Celanese's most recent closing stock price of $47.92.