Avient hikes dividend by 11.8%
Avient (AVNT), formerly PolyOne Corporation (POL), will raise its quarterly dividend by 11.8 percent to 23.75 cents per share in 2021. This follows a dividend hike of 4.9 percent to 21.25 cents per share in 2020 and marks the 10th consecutive year of dividend increases by provider of specialized polymer materials.
The next AVNT dividend will be paid on January 7, 2022 to stockholders of record on December 17, 2021. On an annualized basis, the dividend will increase to $0.95 per share, yielding 1.9% at a stock price of $51.
"Our track record of earnings growth over the years and ability to generate strong cash flow has allowed us to raise our dividend every year since it was first initiated in 2011," said Robert M. Patterson, Chairman, President, and Chief Executive Officer, Avient Corporation. "We are pleased to announce this latest increase of 12%, which reflects the record adjusted EPS we project for 2021 and the confidence we have in our portfolio of sustainable solutions and future growth projections."
Avient, formerly PolyOne Corporation, is a provider of specialty polymer formulations, color and additive systems, packaging solutions, and polymer distribution. The company's segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. PolyOne's brands include Geon, Glasforms, Neu, Gordon Composites, ColorMatrix, Wilflex, GSDI, Polystrand and GLS.