Dupont posts big rise in quarterly sales, hikes dividend and announces buy backs

DuPont posted a big rise in quarterly sales and announced a hike in its dividend payout and fresh share buybacks in response.

For the fourth quarter of 2021, the manufacturer of technology-based materials, ingredients and solutions posted a 14% jump in sales versus a year ago to reach $4.3bn, with organic revenues up by 14%.

Net income from continuing operations on a GAAP basis meanwhile came in at $266m for earnings per share of $0.47.

On an adjusted basis, its quarterly EPS printed at US 47 cents.

The company also guided towards 10% growth in full-year 2022 adjusted EPS for a range of $4.60-4.90.

DuPont's board also announced a fresh $1.0bn share buyback authorisation and a 10% hike in its first quarter dividend to reach $0.33.

As of 1452 GMT shares of DuPont were trading higher by 4.9% to $79.05.