NEW YORK (TheStreet) -- 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. 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.

VIDEO TRANSCRIPT:

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.

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.

More from Stocks

Fiat Chrysler Recalls 4.8 Million Vehicles Over Cruise Control Issue

Fiat Chrysler Recalls 4.8 Million Vehicles Over Cruise Control Issue

One Thing to Consider Over Memorial Day Weekend: Are Stocks About to Collapse?

One Thing to Consider Over Memorial Day Weekend: Are Stocks About to Collapse?

North Korea, Apple, GPDR and Gap - 5 Things You Must Know

North Korea, Apple, GPDR and Gap - 5 Things You Must Know

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Complying With GDPR Could Be Costly for Facebook, Google and Other Tech Giants

Complying With GDPR Could Be Costly for Facebook, Google and Other Tech Giants