HOUSTON (AP) ¿ ICO Inc. said its board has declared a cash dividend of 5 cents per share.

The producer of custom polymer powders and plastic film concentrates for the textile and metal coating markets said the dividend is payable Dec. 31 to shareholders of record on Dec. 28.

Earlier this month the Houston-based company said it will be acquired by A. Schulman Inc. in a $191.4 million deal expected to close in the spring of 2010. The merger agreement allowed for a quarterly dividend of no more than 5 cents, and the company obtained the consent of KeyBank and Wells Fargo to pay the dividend.

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