FMC Plans Dividend

The chemical company rolls out a buyback as well.
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FMC (FMC) - Get Report set plans to pay a quarterly dividend and said it would buy back up to $150 million in stock.

The Philadelphia-based chemical company said it will pay 18 cents a quarter, starting with an April 20 payment to holders of record March 31.

"The initiation of a regular quarterly cash dividend and the announcement of a stock buyback program signal our confidence in the soundness of FMC's businesses and our ability to generate consistent earnings growth," said CEO William Walter. "We believe that these factors coupled with our disciplined financial management will enable us to continue to invest in and grow our existing businesses, pursue external growth opportunities, and reward shareholders with a regular cash dividend as well as additional liquidity."

On Friday, FMC fell 59 cents to $61.96.