FMC hikes dividend, sets $1B stock buyback, outlines five-year strategic plan

|About: FMC Corporation (FMC)|By:, SA News Editor

FMC Corp. (NYSE:FMC) says it will increase its quarterly dividend to $0.40/share from $0.165/share and authorizes a new $1B share repurchase program.

FMC says the moves are part of a capital allocation plan to return up to $4.5B to shareholders in the next five years.

The company also says it will outline five-year strategic plan at its Investor Day, to include targets for revenue compound annual growth rate of 5%-7%, adjusted EBITDA CAGR of 7%-9% and free cash flow conversion growing to ~70%.

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