IFF to cut dividend 50% to 40c per share

The company announced that its Board of Directors, together with the management team, updated the company’s dividend policy, reducing the expected quarterly dividend approximately 50% to 40c per share, implying $1.60 per share annually. With this announcement, the Board of Directors has declared a regular quarterly cash dividend of 40c per share of its common stock, payable on April 10, 2024 to shareholders of record as of March 22, 2024. The company is right-sizing the dividend to enable faster deleveraging of the balance sheet and provide improved financial flexibility. IFF‘s dividend is an important part of its capital allocation framework, and the Company is committed to providing a competitive yield.