(Reuters) -Industrial materials maker DuPont’s board has approved the previously announced separation of its electronic business, Qnity Electronics, the company said on Wednesday. Investors holding DuPont stock as of October 22 will receive one Qnity share for every two DuPont shares on November 1. “In connection with the spinoff, Qnity’s board declared a cash dividend […]
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DuPont board approves Qnity spinoff
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(Reuters) -Industrial materials maker DuPont’s board has approved the previously announced separation of its electronic business, Qnity Electronics, the company said on Wednesday.
Investors holding DuPont stock as of October 22 will receive one Qnity share for every two DuPont shares on November 1.
“In connection with the spinoff, Qnity’s board declared a cash dividend of about $4.122 billion plus the pre-funded interest deposit of around $66 million made by DuPont in connection with the debt obligations,” the company said.
DuPont’s electronic segment includes semiconductor technologies and interconnect solutions.
In September, the company said it expects 2025 net sales of about $6.87 billion, recasting its prior outlook to reflect the planned spin-off of its electronics unit and the divestiture of its Aramids business.
(Reporting by Sumit Saha in Bengaluru; Editing by Shailesh Kuber)