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          MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Clariant AG    CLN   CH0012142631

          CLARIANT AG

          (CLN)
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          Clariant sticks to extra $1 billion payout, scrubs dividend in crisis

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          05/14/2020 | 02:22am EDT
          CEO Kottmann of the Swiss specialty-chemical company Clariant addresses a news conference in Zurich

          Clariant is scrapping a regular dividend as it hunkers down to survive the COVID-19 crisis, the Swiss specialty chemicals maker said on Thursday, while still planning a special $1 billion payout from asset-sale proceeds, if they go through.

          "Our society is confronted with an uncertain and unprecedented economic environment," Clariant's executive chairman, Hariolf Kottmann, said. "The Board of Directors believes in taking a balanced approach towards distributions to shareholders. In this way, the board intends to secure additional liquidity...while still fulfilling its commitment to shareholders."

          Analysts at Baaderbank Helvea said there had been previous speculation Clariant would ditch the special dividend while sticking to the regular one, concluding "the market might be positively surprised" with the move to do the opposite. Clariant's dividend yield stands at 17.6%, after the shares have fallen nearly a third since February.

          If circumstances allow, Clariant said it would wrap the 0.55 Swiss francs dividend it had planned for 2020 into a larger dividend in 2021, to compensate.

          The special dividend, amounting to $3 per share, hinges on the Swiss company completing the $1.6 billion sale of its masterbatches unit to PolyOne Corp, since the proceeds have been designated toward rewarding shareholders including Clariant's largest, 31.5% owner Saudi Basic Industries (SABIC).

          Clariant said weeks ago the PolyOne transaction was still due to be completed by September, though a separate transaction -- the planned disposal of its pigments unit that sources have said may fetch 900 million Swiss francs ($925.16 million) -- has been delayed as the pandemic hinders talks with buyers.

          (Reporting by John Miller; Editing by Riham Alkousaa and Brenna Hughes Neghaiwi)

          Stocks mentioned in the article
          ChangeLast1st jan.
          CLARIANT AG -0.79% 18.15 Delayed Quote.-15.97%
          DEERE & COMPANY -0.78% 175.35 Delayed Quote.1.21%
          LINE CORPORATION 0.36% 5530 End-of-day quote.3.36%
          SAUDI BASIC INDUSTRIES CORPORATION 0.46% 88 End-of-day quote.-6.28%
          SWISS RE LTD 0.30% 74.44 Delayed Quote.-31.52%
          THE NEW HOME COMPANY INC. -2.52% 4.25 Delayed Quote.-8.80%
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          Financials
          Sales 2020 3 862 M 4 193 M 4 193 M
          Net income 2020 145 M 158 M 158 M
          Net Debt 2020 386 M 419 M 419 M
          P/E ratio 2020 41,7x
          Yield 2020 18,5%
          Capitalization 5 978 M 6 481 M 6 491 M
          EV / Sales 2019
          EV / Sales 2020 1,65x
          Nbr of Employees 11 941
          Free-Float 69,9%
          Chart CLARIANT AG
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          Technical analysis trends CLARIANT AG
          Short TermMid-TermLong Term
          TrendsBearishNeutralNeutral
          Income Statement Evolution
          Consensus
          Sell
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          Mean consensus HOLD
          Number of Analysts 16
          Average target price 19,28 CHF
          Last Close Price 18,15 CHF
          Spread / Highest target 59,8%
          Spread / Average Target 6,21%
          Spread / Lowest Target -20,7%
          EPS Revisions
          Managers
          NameTitle
          Hariolf Kottmann Executive Chairman & Chief Executive Officer
          Hans Bohnen Chief Operating Officer
          Stephan Lynen Chief Financial Officer & Executive Vice President
          G黱ter von Au Non-Executive Director
          Konstantin Alfred Winterstein Non-Executive Director
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