CONSHOHOCKEN, Pa., May 6, 2015 /PRNewswire/ — Quaker Chemical Corporation (NYSE: KWR) today announced that its Board of Directors has approved several capital actions:

• A 7% increase in the Company’s quarterly cash dividend to $0.32 per share; and
• A new share repurchase program authorizing the Company to repurchase up to $100 million of its common stock.

Michael F. Barry, Chairman, Chief Executive Officer and President commented, “Today’s announcement reflects our confidence in the future of Quaker and our ability to generate strong cash flow. The dividend increase and the new share repurchase program are tangible actions which demonstrate our commitment to create shareholder value and return capital to our shareholders.”

Mr. Barry continued, “Together with the dividend, our primary use of capital will continue to be funding growth, both organically or by acquisitions. We have completed ten acquisitions over the past five years and we are pleased with the value they have created to date and the value we expect them to generate in the future. We continue to believe that additional acquisitions will be the best way to maximize shareholder value over the next several years. We intend to proceed with both acquisitions and share repurchases while maintaining our leverage at a reasonable level. The level of share repurchases will depend upon our judgment on the potential acquisition opportunities in the pipeline at any given time. At a minimum, we intend to repurchase shares to at least offset the dilutive impact of shares issued each year.”

The higher quarterly dividend of $0.32 per share, up from $0.30 per share, is to be paid on July 31, 2015 to shareholders of record as of July 17, 2015. This is the 43rd consecutive year that Quaker has paid a dividend with 39 increases in that timeframe.

The new share repurchase program will become effective immediately and has no expiration date. The Company is authorized to repurchase shares of common stock in the open market or in privately negotiated transactions. The timing and amount of the repurchases will be subject to an evaluation of market conditions, legal requirements and other factors. As such, purchases may be started or stopped at any time without prior notice. This program replaces all previous share repurchase authorizations.

About Quaker

Quaker Chemical is a leading global provider of process fluids, chemical specialties, and technical expertise to a wide range of industries, including steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and others. For nearly 100 years, Quaker has helped customers around the world achieve production efficiency, improve product quality, and lower costs through a combination of innovative technology, process knowledge, and customized services. Headquartered in Conshohocken, Pennsylvania USA, Quaker serves businesses worldwide with a network of dedicated and experienced professionals whose mission is to make a difference.

Logo- http://photos.prnewswire.com/prnh/20120910/PH70044LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/quaker-chemical-announces-dividend-increase-and-share-repurchase-program-300078589.html

SOURCE Quaker Chemical Corporation