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Change Today -0.2629 / -0.39%
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As of 3:57 PM 04/24/14 All times are local (Market data is delayed by at least 15 minutes).

du pont (e.i.) de nemours (DD) Key Developments

Dupont Declares Second Quarter Common Stock Dividend, Payable June 12, 2014 and Regular Quarterly Dividends on Preferred Stock Payable on July 25, 2014

DuPont declared a second quarter common stock dividend of 45 cents per share payable June 12, 2014, to stockholders of record May 15, 2014. Regular quarterly dividends of $1.12-1/2 per share on the $4.50 series preferred stock and 87-1/2 cents per share on the $3.50 series preferred stock also were declared, both payable July 25, 2014, to stockholders of record July 10, 2014.

E. I. du Pont de Nemours and Company Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Reaffirms Earnings Guidance for the Full Year 2014; Provides Earnings Guidance for the First Half of 2014

E.I. du Pont de Nemours and Company reported consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $10,128 million against $10,408 million a year ago. Income from continuing operations before income taxes was $1,802 million against $1,774 million a year ago. Net income attributable to the company was $1,439 million against $3,348 million a year ago. Diluted earnings per share of common stock from continuing operations were $1.54 against $1.47 a year ago. Diluted earnings per share of common stock were $1.54 against $3.58 a year ago. Operating EPS was $1.58 against $1.56 a year ago. Cash used for operating activities was $2,421 million against $2,667 million a year ago. Purchases of property, plant and equipment were $320 million against $321 million a year ago. Adjusted EBIT from operating earnings was $1,945 million against $2,066 million a year ago. Adjusted EBITDA from operating earnings were $2,382 million against $2,499 million a year ago. Consolidated sales were 3% below last year, principally due to differences in timing and planted area for Agriculture sales, negative currency impact, and adverse weather conditions in North America. The company reaffirms its outlook for full-year 2014 operating earnings of $4.20-$4.45 per share, an increase of 8-15% from $3.88 per share earned in 2013, based on anticipated growth in global industrial market demand. EPS from continuing operations are expected to be $3.98 - $4.23. The company also expects it will earn about 70% of its full year operating earnings per share in the first half of 2014.

DuPont Develops Innovative Manufacturing, DeepColor Technology

DuPont have developed an innovative manufacturing solution called DeepColor Technology (a patent pending invention) enabling the creation of dark solid surfaces which offer deeper, more intense and durable color, improved wear performance and easier thermoforming, seaming and finishing. The DeepColor Technology has been used by DuPont to produce four black tones: DuPont Corian Deep Nocturne, DuPont Corian Deep Anthracite, DuPont Corian Deep Black Quartz, DuPont Corian Deep Night Sky. The four colors of DuPont Corian made with DeepColor Technology will be commercially available. Product and color availability subject to regional offering.

Camlin Fine Reportedly In Merger Talks With du Pont; Camlin Fine Denied Rumors

E. I. du Pont de Nemours and Company (NYSE:DD) is in talks to buy out Camlin Fine Sciences Ltd. (BSE:532834), reported The Economic Times (ET) citing market speculation. According to the rumors, the promoters of Camlin Fine Sciences, led by the Dandekar family, are negotiating to offload their stakes. Camlin shares jumped 11.30% on April 16, 2014. Market grapevine has it that talks between E. I. du Pont de Nemours and Camlin Fine are in an advanced stage. du Pont has already conducted the due diligence, said two market sources. Camlin Fine denied that its promoters were looking to sell their stake. In response to an email query from ET, the company spokesperson said, "They are not true. We are not in talks with anyone." A spokesperson for E. I. du Pont de Nemours said the company did not want to comment on rumours and speculation.

DuPont Announces Management Changes

DuPont announced several senior leadership changes at the corporate, business and regional levels Timothy P. McCann, president of DuPont Building Innovations, was named vice president of DuPont Integrated Business Management (DIBM), effective immediately. In his new DIBM role, McCann will lead DuPont's demand creation, product-line management and supply-chain strategy, in addition to direct end-to-end business planning and customer management. McCann will report to Senior Vice President James C. Collins, Jr. Rajeev A. Vaidya, president -- DuPont South Asia & ASEAN and chairman of the board of E. I. DuPont India Private Limited, was named president of DuPont Building Innovations, a global leader in building products, systems and science, effectively immediately. Vaidya will oversee renowned DuPont brands including DuPont(TM) Corian(R) solid surfaces and Tyvek(R) high-performance protective membranes for the building and construction market. He will report to Senior Vice President Matthew L. Trerotola. Balvinder Singh Kalsi, business director, Corporate Plans, will repatriate to India and is assigned president, South Asia & the Association of Southeast Asian Nations (ASEAN) and chairman of the board of E. I. DuPont India Private Limited. Kalsi will oversee DuPont operations across India, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. He will receive functional guidance from DuPont Executive Vice President Thomas M. Connelly, Jr. McCann joined DuPont in 1980 and has served in a key global business positions in Engineering Polymers, Fluoroproducts, Electronic Technologies, Performance Coatings and Building Innovations. He earned a master's degree in business administration from the Wharton School at the University of Pennsylvania and a bachelor's degree in chemistry from Cornell. Tim is an outstanding choice to lead DuPont's expanded DIBM organization. His deep global experience and incredibly diverse business knowledge will help strengthen DuPont's business planning and customer service engagement worldwide. Vaidya joined DuPont in 1985 and has served in key technology and commercial marketing and business leadership roles. He has worked in the United States, China, Singapore and India in four different business units and the DuPont Central Research & Development organization. Kalsi joined DuPont in 1991 and has served in leadership roles in Finance & Corporate Planning, Agricultural Products and Pioneer seed. He previously served as president of South Asia for DuPont prior to his latest role in Corporate Plans.

 

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