Stepan Increases Quarterly Cash Dividend, Marking the 56th Consecutive Year of Increases

Reported net income for 2022 of $147.2 million and adjusted net income of $153.5 million were both record results and both up 7% from prior year. Unprecedented cost inflation drove pricing adjustments that resulted in an increase in net sales, while sales volume declined 7% amidst a slowing global economy in the second half of the year

EBITDA was a record $293 million dollars while shareholders’ equity was a record $1.17 billion dollars. The quarterly dividend was raised by 9.6% marking the 55th consecutive year of dividend increases.

Sales increased by $75.6 million against lower volume due to inventory destocking across the channel and an overall slowdown in the construction markets in Europe and the United States

Sales increased by $75.6 million against lower volume due to inventory destocking across the channel and an overall slowdown in the construction markets in Europe and the United States.