Approval to separate materials science department and become the new dow

March 8, dowdupont announced that its board of directors had approved the previously announced separation of dowdupont's Materials Science Division, which will become the new Dow on April 1. Regarding the separation, dowdupont's board of directors announced a pro rata dividend on all of Dow's outstanding common shares, formerly Dow holdings, the parent company of dowdupont's Materials Science Division. Dividends are expected to be paid to dowdupont shareholders on April 1 (the date of distribution) as recorded at the close of business on March 21. On the distribution date, each dowdupont shareholder will receive one Dow common share for every three dowdupont common shares held on the record date. Registered dowdupont shareholders will receive cash in place of any portion of Dow's common stock. "The announcement marks an important milestone in the successful separation of Dow on April 1, followed by the separation of corteva agriculture from the new DuPont on June 1," said Ed Breen, CEO of dowdupont. "We believe that each of the three independent companies will be the industry leader with the right management and capital structure to better serve customers, compete in the end market and focus on their innovation focus." After the separation, Dow will become an independent listed company.

"New Dow is a more focused, disciplined, market-oriented company," said Jim fittering, chief executive of materials science and Dow. "We are ready to be separated from dowdupont on April 1 and to innovate and grow with our customers while delivering long-term value to our shareholders." At the close of business on May 31, Dow's board of directors announced that it would pay a total dividend of $525 million in the second quarter of 2019 to the recorded Dow shareholders on June 14. In addition, dowdupont's board of directors announced that dividends for the second quarter of 2019 would be paid on May 28, totaling $325 million, prorated to dowdupont's registered shareholders at the close of business on April 26. Dow common stock on the New York Stock Exchange (NYSE) is expected to be issued around March 20, under the code dowwi. Dow's common stock will be traded in New York Stock Exchange on April 2, so Dow marks the beginning of "regular" trading. Starting from March 20 and continuing to April 1, it is expected that there will be two dowdupont common stock markets on the New York Stock Exchange: one is the "regular" market in line with dwdp, where dowdupont's shares will be traded, and dowdupont's shares will be entitled to acquire shares of Dow's common stock in the distribution; the other is the "pre distribution market" in line with dwdpwi, where dowdupont's shares will not be entitled to acquire Dow's shares in the distribution Shares of common stock.