DuPont has been the target of several activist investors led by Trian Fund Management. The culmination of Trian’s efforts has been to force DuPont into solely focusing on faster-growing specialty chemicals businesses while shedding some of the commodity/basic chemicals assets it owns. The spinoff of these assets — now known as Chemours (CC) — will officially start trading as a detached firm on July 1, but so far, CC’s “when issued” shares have been a real dog.
DuPont (through Chemours’ management) has agreed to pay an initial quarterly dividend of $100 million in September. That works out to be 55 cents per share, or $2.19 annually — which would give CC stock an initial yield of more than 14%! CC stock is going to be a volatile train wreck for a few quarters until it can get its act together as TiO2 pricing remains weak. However, for longer termed investors, that could provide a buying opportunity for one of the strongest players in the sector. Chemours deserves to be on your watch list, just don’t pull the trigger yet.
Source: InvestorPlace
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