The long-awaited spin-off of Dow Inc. is complete. On Tuesday April 2, the material science company started trading on the New York Stock Exchange under the symbol DOW.
"Today's announcement completes our first step toward creating three strong, independent growth companies set to be industry leaders focused on driving innovation and delivering long-term value for shareholders," said Ed Breen, chief executive officer of DowDuPont. "Dow begins its next chapter as a more focused, disciplined and market-oriented company, and I am excited for the tremendous opportunities ahead for its employees, shareholders, and customers."
DowDuPont common stockholders received one share of common stock of Dow for every three shares of DowDuPont common stock they held as of the close of business on March 21, 2019. DowDuPont common stockholders will also receive cash in lieu of fractional shares of Dow common stock.
The spin off of DowDuPont's Agriculture Division, under the name Corteva Agriscience, will take place on June 1, 2019.
Subsequent to the Corteva Distribution, DowDuPont would hold the Specialty Products Division and be renamed "DuPont."