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NEW YORK (TheStreet) -- Shares of Dow Chemical (DOW) - Get Dow, Inc. Report are climbing on Wednesday after reporting better-than-expected quarterly profit and raising its stock buyback plan. Dow reported adjusted profit of 65 cents a share for the fourth quarter, beating analysts' expectations of 43 cents a share, according to Thomson Reuters. The chemical maker saw sales growth in nearly all of its operating segments during the quarter. Dow also tripled its share buyback program to $4.5 billion and raised its dividend by 15% to 37 cents a share.

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Shares of Dow Chemical DOW are climbing on Wednesday after reporting better-than-expected quarterly profit and raising its stock buyback plan.

Dow reported adjusted profit of 65 cents a share for the fourth quarter, beating analysts' expectations of 43 cents a share, according to Thomson Reuters.

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The chemical maker saw sales growth in nearly all of its operating segments during the quarter. Dow experienced especially strong margins at its plastics business, where earnings jumped 40% during the period, excluding some items.

Dow also tripled its share buyback program to $4.5 billion and raised its dividend by 15% to 37 cents a share.

The company has come under pressure from activist investor Dan Loeb, who has been calling on Dow to spin off its petrochemical business, calling it a potential "significant drag on profitability."

At last check, shares of Dow Chemical were rising about 5.6% to $45.49.

In New York, I'm Brittany Umar for TheStreet.