International Flavors & Fragrances Cuts Expected Quarterly Dividend Approximately 50% To $0.40 Per Share
Portfolio Pulse from Benzinga Newsdesk
International Flavors & Fragrances (IFF) announced a significant reduction in its expected quarterly dividend, cutting it by approximately 50% to $0.40 per share. This adjustment reflects a new dividend policy set by the company's Board of Directors and management team. The revised dividend will be payable on April 10, 2024, to shareholders of record as of March 22, 2024.
February 20, 2024 | 9:28 pm
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International Flavors & Fragrances has reduced its expected quarterly dividend by about 50% to $0.40 per share, indicating a significant change in its dividend policy.
Dividend cuts are generally viewed negatively by the market as they can signal financial distress or a shift in company strategy that prioritizes reinvestment over shareholder returns. This substantial reduction in IFF's dividend could lead to short-term negative sentiment among investors, potentially impacting the stock price adversely.
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