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Stepan Co (SCL) Q1 2021 Earnings Call Transcript
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Stepan to Announce First Quarter 2021 Results on April 27, 2021
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Stepan Declares Quarterly Dividend
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NORTHFIELD, Ill., Feb. 18, 2021 /PRNewswire/ Stepan Company (NYSE:SCL) today reported:
On February 17, 2021, the Board of Directors of Stepan Company declared a quarterly cash dividend on the Company s common stock of
$0.305 per share. The dividend is payable on March 15, 2021, to common stockholders of record on March 5, 2021. The Company increased its quarterly cash dividend in the fourth quarter of 2020 by $0.03 per share, marking the 53rd consecutive year that the Company has increased its cash dividend to stockholders.
Corporate Profile
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expan
Stepan Reports Record Fourth Quarter Results and Full Year 2020 Earnings
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Fourth Quarter Highlights
Reported net income was $30.4 million, or $1.30 per diluted share versus $22.0 million, or $0.95 per diluted share, in the prior year. Adjusted net income was $33.1 million, or $1.42 per diluted share versus $25.7 million, or $1.10 per diluted share, in the prior year. Total Company sales volume increased 7% versus the prior year.
Surfactant operating income was $43.3 million versus $33.9 million in the prior year. This increase was primarily attributable to an 8% increase in global sales volume as well as improved product and customer mix. The sales volume growth was principally due to higher demand for cleaning, disinfection and personal wash products as a result of COVID-19.
Stepan Co (SCL) Q4 2020 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Stepan Co (NYSE: SCL)
Operator
Greetings, and welcome to the Q4 and Full Year 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, Thursday, February 18, 2021.
It is now my pleasure to turn the conference over to Luis Rojo, Vice President and Chief Financial Officer. Please go ahead.
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company s SEC filings. Please see our
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