Eastman Declares Two-for-One Stock Split; Increases Quarterly Cash Dividend by 11% to $0.52

The Board of Directors of Eastman Chemical Company EMN has declared a two-for-one split of the company's common stock and increased the quarterly cash dividend on the company's common stock by 11 percent to $0.52 per share on a pre-split basis. The stock split will be in the form of a 100 percent stock dividend to be distributed Oct. 3, 2011 to stockholders of record as of Sept. 15, 2011. Stockholders will be issued one additional share of common stock for each share held. Eastman's common stock will begin trading on a split-adjusted basis on Oct. 4, 2011. The cash dividend is payable Oct. 3, 2011 to stockholders of record as of Sept. 15, 2011, and will be paid on the pre-split shares. Since December 2010, the Board has increased the quarterly cash dividend by 18 percent.