Rockwood Holdings, Inc. (NYSE: ROC), a global producer of specialty chemicals and advanced materials, today announced that its Board of Directors has adopted a policy to pay a regular quarterly dividend in such amount as the Board of Directors may from time to time determine. As a result, Rockwood also announced today that its Board of Directors has declared an initial quarterly cash dividend of $0.35 per share payable on July 11, 2012 to all common stockholders of record at the close of business on June 26, 2012. On an annualized basis, the quarterly dividend announced today represents a yield of 2.96% based on the $47.30 per share closing price of our stock on the New York Stock Exchange on June 8, 2012.
Rockwood expects future dividend payments to be made in March, June, September and December. The declaration and payment of any future dividends, however, will be at the discretion of the Board of Directors.
Seifi Ghasemi, Chairman and Chief Executive Officer, commented “We are pleased to be able to reward our stockholders with this dividend program. The program reflects the strength of our balance sheet, our fundamental ability to generate strong cash flows and our confidence in the future prospects of our businesses. We are committed to creating further value for our stockholders.”
* * *Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 9,700 people and annual net sales of approximately $3.7 billion. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com. The information set forth in this press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Holdings, Inc. and its subsidiaries and affiliates ("Rockwood"). Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "predicts" and variations of such words or expressions are intended to identify forward-looking statements. Although Rockwood believes the expectations reflected in such