Stepan Q3 adj EPS flat at $1.57; raises dividend 9.8% to $0.335; plans $220M Texas plant

STEPAN CO

Q3 adj net income $36.4M ($1.57/sh) flat YoY; reported net income $36.9M ($1.59/sh) up 11%.
Surfactant op income down 16% to $34.5M; Polymer down 12% to $19.8M on supply chain disruptions.
Board approved 9.8% dividend increase to $0.335/sh quarterly, marking 54th consecutive year of increases.
Board authorized $150M share repurchase program, superseding prior authorization; no expiration date.
Plans $220M investment in new alkoxylation plant at Pasadena, TX (75K mt/yr capacity), expected online late 2023.

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