Recent Updates — SCL

Stepan Company declared a quarterly cash dividend of $0.405 per share, payable December 15, 2026, to shareholders of record on December 1, 2026. This marks the company's 59th consecutive year of dividend increases. The filing also reports third-quarter 2026 financial results, with net income rising 64% to $17.8 million and adjusted EBITDA increasing 18% to $66.3 million. Net sales grew 17% year-over-year to $692.2 million, driven by higher selling prices and organic volume growth of 7%. Stepan Company is a major manufacturer of specialty and intermediate chemicals used in consumer, industrial, agricultural, and construction applications.

Stepan Company entered into a new Credit Agreement on September 25, 2026, establishing $500 million in committed credit facilities to replace its previous $450 million arrangement. The new structure includes a $350 million multicurrency revolving credit facility and a $150 million delayed draw term loan, both maturing on September 25, 2031. An expansion option allows for an additional $250 million in incremental financing. Proceeds may be used for working capital, acquisitions, capital expenditures, and general corporate purposes. Interest rates are tied to SOFR or EURIBOR with spreads ranging from 0.125% to 1.625%, depending on the company's net leverage ratio. The agreement imposes standard financial covenants regarding interest coverage and net leverage ratios. Stepan Company operates in the specialty chemicals industry, manufacturing surfactants, emulsifiers, and other chemical products.

Stepan Company reported second quarter 2026 net income of $22.9 million and adjusted EBITDA of $74.4 million, reflecting strong performance in its Surfactant and Polymer segments. The company announced a plan to reduce its global salaried workforce by approximately 100 roles as part of Project Catalyst, estimating $4 million to $6 million in restructuring charges for the third quarter. Additionally, Jan Stern Reed resigned from the Board effective July 27, 2026, while Randall S. Dearth and Susan M. Lewis were appointed committee chairs, and Matthew J. Eaken was named Principal Accounting Officer. The Board also declared a quarterly cash dividend of $0.395 per share, payable on September 15, 2026, to shareholders of record as of September 1, 2026. Stepan Company is a major manufacturer of specialty and intermediate chemicals used in cleaning, agricultural, oilfield, and industrial applications.