International Flavors & Fragrances Inc. NEWS RELEASE New York, N.Y., May 14, 2003 —The Board of Directors of International Flavors & Fragrances Inc., today voted to increase the regular quarterly cash dividend by 7%, from 15 cents to 16 cents per share, on the common stock of the Corporation. The cash dividend is payable July 10, 2003 to shareholders of record June 26, 2003. Richard A. Goldstein, IFF’s Chairman and Chief Executive Officer stated, “I am pleased the Board has taken this action. We have made substantial progress in growing our earnings and in paying down debt; this increase reflects our confidence in the Company’s long-term growth and our commitment to building shareholder value. The increased payout, on an annualized basis, represents approximately 30% of current year forecast earnings per share and is consistent with the Company’s long-term plan to pay dividends approximating 30-35% of yearly earnings.” About IFF IFF has sales, manufacturing and creative facilities in 34 countries worldwide and annual sales exceeding $1.8 billion. For more information, please visit our Web site atwww.iff.com. Cautionary Statement Under the Private Securities Litigation Reform Act of 1995 ***************** |
International Flavors & Fragrances (IFF) 8-KFinancial statements and exhibits
Filed: 15 May 03, 12:00am