CONSHOHOCKEN, Pa., May 7, 2014 /PRNewswire/ -- The Board of Directors of Quaker Chemical Corporation (NYSE: KWR) today declared a $0.30 per share quarterly dividend, a 20% increase compared to the quarterly dividends declared over the past four quarters. The quarterly dividend is payable on July 31, 2014, to shareholders of record at the close of business on July 17, 2014.
Michael F. Barry, Chairman, Chief Executive Officer and President commented, "Our strong cash flow generation and our confidence in the future earnings power of our company are the main drivers for this significant increase of our dividend. We believe this increased dividend payout is appropriate and allows shareholders to participate more directly in the earnings stream of the company while still providing significant financial flexibility to make acquisitions. We are pleased to say that this is our 39th dividend increase in 42 consecutive years of paying dividends."
Mr. Barry continued, "Our main goal is to create value for our shareholders. As we assess our options for capital allocation, we continue to believe that making acquisitions is the best way to create significant shareholder value. We believe our strong balance sheet and on-going cash flow generation will allow us to make significant future acquisitions while continuing to pay consistent dividends."
Quaker Chemical is a leading global provider of process fluids, chemical specialties, and technical expertise to a wide range of industries, including steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and others. For nearly 100 years, Quaker has helped customers around the world achieve production efficiency, improve product quality, and lower costs through a combination of innovative technology, process knowledge, and customized services. Headquartered in Conshohocken, Pennsylvania USA, Quaker serves businesses worldwide with a network of dedicated and experienced professionals whose mission is to make a difference.
SOURCE Quaker Chemical Corporation
Margaret M. Loebl, Vice President, Chief Financial Officer and Treasurer, firstname.lastname@example.org, T. 610.832.4160