Eastman Board Increases Dividend for Tenth Consecutive Year

Kingsport, Tenn., Dec. 05, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Eastman Chemical Company (NYSE: EMN) has declared a quarterly cash dividend of $0.66 per share on the company's common stock, a 6.5 percent increase from $0.62 per share. The dividend is payable Jan. 3, 2020, to stockholders of record as of Dec. 16, 2019.

“Consistent with Eastman’s focus on balanced and disciplined capital allocation and stockholder returns, I am pleased that the company has each year for the past decade increased the dividend,” said Curt Espeland, executive vice president and chief financial officer. “This action reflects the Board’s confidence in our ability to deliver earnings growth and strong cash flow generation.”

Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end-markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2018 revenues of approximately $10 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

CONTACT: Media:  Tracy Kilgore Addington
423-224-0498 / [e-mail]

Investors:  Greg Riddle
212-835-1620 / [e-mail]