IFF refuses to estimate performance, the prospects of the flavor and fragrance?

On August 10, the International Flavours and Fragrances Corporation (IFF) announced that it would raise its quarterly dividend, but said that due to the uncertainties caused by the epidemic, it would temporarily not release its full-year performance guidance, indicating that the outlook for the global flavors and fragrances industry is still unpredictable.

On the 10th, IFF announced when it announced its second-quarter results that the company’s board of directors had authorized a 3% increase in the quarterly dividend for common stock, or $0.02, to $0.77 per share. The dividend for the second quarter will be paid on October 5 for shareholders who are still on the register as of September 24. This is the 11th consecutive year that IFF has increased its quarterly dividend.

At the same time, IFF said that given the continued fermentation of the new crown epidemic, its final impact is still unclear. The company is currently unable to predict its full-year financial performance, so it has not issued full-year performance guidance.

Despite the blurry outlook for the industry, IFF CEO Andreas Fibig (Andreas Fibig) revealed that the company's sales have improved in July. "With the relaxation of the new crown restrictions and the suspension of production and business measures, people’s mobility has increased. We saw signs of improvement in July, and sales have achieved a growth of no more than 3%-this is a significant improvement, since the second quarter. Turning point."