CRANBURY, N.J., March 21, 2011 /PRNewswire/ — Innophos
Holdings, Inc. (Nasdaq:
IPHS) today announced that its Board of Directors had declared
a dividend of $0.25 per share of common stock, payable on April 29,
2011 to holders of record on April 15, 2011. The new rate
represents an increase of 47% over the previous $0.17 per share
quarterly dividend rate. The company has paid cash dividends
at the previous rate continuously since it went public in late
2006.
Randy Gress, Chief Executive Officer and Chairman of the Board,
commented, “We are pleased to announce the Board’s decision to
increase significantly our quarterly dividend. This
announcement reflects the success of our transformation to a
company primarily focused on food ingredients, with improved
earnings and cashflow characteristics and greatly reduced leverage.
Our strong financial position gives us the ability to return
additional value to shareholders through the dividend, while at the
same time maintaining our primary focus on investing in the future
growth of our business.”
About Innophos Holdings, Inc.
Innophos is a leading North American producer of specialty
phosphate products, offering performance-critical ingredients with
applications in food, beverage, pharmaceutical, oral care and
industrial end markets. Innophos produces complex phosphates to the
highest standards of quality and consistency demanded by customers
worldwide, develops new and innovative phosphate-based products to
address specific customer applications and supports these
high-value products with industry-leading technical service.
Headquartered in Cranbury, New Jersey, Innophos has manufacturing
operations in Nashville, TN; Chicago Heights, IL; Chicago
(Waterway), IL; Geismar, LA; Port Maitland, ON (Canada); and
Coatzacoalcos, Veracruz and San Jose de Iturbide (Mission Hills),
Guanajuato (Mexico)
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