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.

If you liked this article you might like

Why Bayer's $66 Billion Takeover of Monsanto Probably Won't Happen Until 2018

Cramer: The Market Is Back to the Late '80s, Early '90s

DowDupont Closes Higher in First Day of Trading, Company Still Faces Challenges

FMC Stock's Impressive Rally Has Another 20% to Gain: Jim Cramer

Jim Cramer on Why FMC Was Upgraded by Bank of America