Action Underscores Commitment to Shareholder Value
E. I. du Pont de Nemours and Company Announces Quarterly Dividend on Preferred Stock
WILMINGTON, Del., July 21, 2021 – Corteva, Inc. (NYSE: CTVA) today announced its Board of Directors has authorized a common stock dividend of $0.14 cents per share, payable September 15, 2021, to the Company’s shareholders of record on August 13, 2021 – representing an annualized increase of 7.7% over the Company’s previous quarterly dividend.
Corteva Chief Executive Officer Jim Collins said, “This action reflects the Board’s continued confidence in Corteva’s ability to execute – and is consistent with the Company’s operational momentum. This increase further reinforces Corteva’s stated commitment to maintaining a competitive dividend and returning value to shareholders.”
Dave Anderson, Executive Vice President and Chief Financial Officer said, “Corteva’s dividend policy is an important element of the Company’s balanced and disciplined approach to capital allocation. Anderson continued, “This increase supports our shareholder-centered approach.”
This increase marks the first increase to the Company’s cash dividend since becoming a public company in June 2019.
E. I. du Pont de Nemours and Company Announces Preferred Stock Dividend
The Board of Directors of E. I. du Pont de Nemours and Company (EID) declared regular preferred stock dividends of $1.12-1/2 per share on the $4.50 series preferred stock and $0.87-1/2 per share on the $3.50 series preferred stock – both payable October 25, 2021 to EID stockholders of record on October 8, 2021. EID is a wholly-owned subsidiary of Corteva, Inc.
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About Corteva
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the Company is committed to working with stakeholders throughout the food system as it fulfils its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.
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Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva’s strategy for growth, cash flow, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures, and financial results, as well as expected benefits from, the separation of Corteva from DowDuPont, are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Corteva’s control. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva’s business, results of operations and financial condition. Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business.
Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in Corteva’s Annual Report on Form 10-K for the Period Ended December 31, 2020 filed with the U.S. Securities and Exchange Commission.
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07/21/21
™ ® Trademarks of Corteva Agriscience and its affiliated companies.
Media Contact:
Kasey Anderson
+1-317-337-4478
kasey.anderson@corteva.com
Investor Contact:
Jeff Rudolph
+1-302-485-3704
jeff.rudolph@corteva.com